State Bank of India (SBI) reported a 137 per cent jump in net profit at Rs 3,752 crore for the first quarter ended June 30, 2012, though rising non-performing loans continue to be a cause of concern.
The bank had a net profit of Rs 1,583 crore in the April-June quarter of 2011-12 fiscal. The banks net non-performing assets (NPAs) rose to 2.22 per cent of total loan book at the end of June, against 1.61
per cent a year ago, reflecting the impact of slowing economy.
The banks total income increased 16.89 per cent in the quarter to Rs 32,415 crore, from Rs 27,732 crore in the same period a year ago. Shares of SBI, however, slipped 3.65 per cent after the results to Rs 1,900.05 on the BSE in afternoon.