State Bank of India (SBI) has reported a 13.6 per cent
decline in standalone net profit for the quarter ended June 30, due to increased provisioning for rising non-performing assets (NPAs).
The country's largest bank has posted a profit of Rs 3,241.08 crore for the April-June period, against Rs 3,752 crore in the same quarter last year.
Total
income increased to Rs 36,192.62 crore in the quarter, from Rs 32,415 crore in the same period a year ago.
Reflecting the impact of slowing economy, SBI's gross NPAs rose to 5.56 per cent of total advances at the end of June, against 4.99 per cent a year ago.
On consolidated basis,
SBI's net profit fell by 12 per cent to Rs 4,298.56 crore for the quarter ended June 30, from Rs 4,874.7 crore in the same period a year ago.
Total income on consolidated basis increased to Rs 52,502.29 crore as against Rs 46,839 crore in the April-June quarter of 2012-13.
In value terms, SBI's gross NPAs increased to Rs 60,891.46 crore (5.56 per cent of loans) during the June quarter, from Rs 47,156.38 crore (4.99 per cent) in the corresponding period a year ago.
Net NPAs of the bank rose to Rs 29,989.84 crore (2.83 per cent) at the end of the first quarter, against Rs 20,324.01 crore (2.22 per cent) in the year ago.
Shares of SBI were trading down 2.65 per cent at Rs 1,617.35 on the Bombay Stock Exchange in afternoon trade.
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