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      SBI slides after weak Q1 results

      MoM Team / Mumbai, Aug 11, 2017 02:01 PM IST

        SBI slides after weak Q1 results

        State Bank of India fell 4.2 percent to Rs 284 on BSE after net profit fell 20.44 percent to Rs 2005.63 crore on 28.58 percent growth in total income to Rs 62911.08 crore in Q1 June 2017 over Q1 June 2016.

        The result was announced during market hour today, 11 August 2017.

        Meanwhile, the S&P BSE Sensex was down 337.31 points, or 1.07 percent to 31,194.02.

        On the BSE, 31.43 lakh shares were traded in the counter so far, compared with average daily volumes of 12.73 lakh shares in the past one quarter. The stock had hit a high of Rs 302.80 and a low of Rs 279 so far during the day.

        The stock hit a 52-week high of Rs 315 on 19 May 2017. The stock hit a 52-week low of Rs 224.40 on 12 August 2016.

        The stock had outperformed the market over the past one month till 10 August 2017, rising 3.18 percent compared with 0.86 percent decline in the Sensex. The scrip had underperformed the market in past one quarter, falling 0.20 percent as against Sensex's 4.45 percent rise. The scrip had outperformed the market in past one year, rising 30.67 percent as against Sensex's 13.18 percent rise.

        The large-cap state run bank has equity capital of Rs 863.21 crore. Face value per share is Re 1.

        The bank's gross non-performing assets (NPAs) stood at Rs 188068.49 crore as on 30 June 2017 as against Rs 112342.99 crore as on 31 March 2017 and Rs 101541.18 crore as on 30 June 2016.

        The ratio of gross NPAs to gross advances stood at 9.97 percent as on 30 June 2017 as against 6.90 percent as on 31 March 2017 and 6.94 percent as on 30 June 2016.

        The ratio of net NPAs to net advances stood at 5.97 percent as on 30 June 2017 as against 3.71 percent as on 31 March 2017 and 4.05 percent as on 30 June 2016.

        The bank's provisions and contingencies rose 20.46 percent to Rs 8929.48 crore in Q1 June 2017 over Q1 June 2016. Of this, provisions for NPAs rose 91.26 percent to Rs 12125.26 crore in Q1 June 2017 over Q1 June 2016.

        Provision coverage ratio of the bank was at 60.79 percent as on 30 June 2017.

        The first quarter results are not comparable with year ago period due to merger of its subsidiaries with self, SBI said in its exchange filing.

        Government of India holds 57.07 percent stake in State Bank of India (as on 30 June 2017).


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      Source: Capital Market



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