SBI hits new 52-week high on strong Q4 results

Last Updated: Fri, May 19, 2017 19:17 hrs

State Bank of India today reported a sharp 122.72% rise in standalone bottom line figure at Rs 2814.82 crore for the quarter ended March 31, 2017 against Rs 1263.81 crore reported for the corresponding quarter a year ago. For the full year ended March 2017, SBI posted a net profit of Rs 10,484 crore, up 5.36% over financial year 2015-16 net profit of Rs 9951 crore.

Gross NPA as percentage of total advances was 6.9% as on 31 March 2017, as compared to 7.23% in the preceding quarter and 6.5% in the year-ago quarter. Net NPA ratio stood at 3.71% as on 31 March 2017, as against 4.24% in the preceding quarter and 3.81% in January - March 2016 quarter.

Standalone net interest income of the bank was up 17.33% at Rs 18,070.72 crore in the January - March 2017 quarter, compared to Rs 15,401.18 crore in the year-ago quarter.

SBI's standalone total income for the quarter ended March 2017  jumped 7.83% to Rs 57,720.07 crore, from Rs 53,526.97 crore in the corresponding quarter last year.

The bank has declared a dividend of Rs 2.60 per share for the financial year ended March 31, 2017. The bank has fixed 6 June 2017 as the date for payment of the dividend.

The stock, which hit a 52-week high at Rs 315 soon after announcement of results, ended on Rs 308.15, up 1.72% from its previous closing price. On NSE, the stock rose to Rs 308.95, up 1.98%.

More from Sify: