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On Friday, the State Bank of India which is the largest lender of the country, has posted more than doubling of its net profit at Rs 2,814.82 crore for the March quarter.
During the same quarter of previous year, the bank had posted a standalone net profit of Rs 1,263.81 crore.
The bank’s consolidated net profit for the year ended March 2017, however, declined by about 98 percent to Rs 241.23 crore from Rs 12,224.59 crore at the end of 2015-16.
The bank has said in a BSE filing that the total income on a standalone basis for the March quarter increased 7.8 percent to Rs 57,720 crore from Rs 53,526.97 crore in the year ago period.
In January-March quarter, the gross non-performing assets increased to 6.9 percent from 6.5 percent in the same quarter of 2015-16.
The net NPA, however, declined to 3.71 percent as compared to 3.81 percent of previous year.
