State lender State Bank of India today reported a 10% rise in Q1 net profit at Rs 3,692 crore, beating analyst estimates, as bad loan provisions fell.
The bank had reported net profit of Rs 3,349 crore in the year-ago period.
Provisions were down quarter-on-quarter to Rs 4,000 crore from Rs 6,593 crore in the previous quarter.
Gross NPA rose to 4.29% from 4.25% on a quarter-on-quarter basis. Net NPA too rose to 2.24% from 2.12% in the previous quarter.
Net interest income rose 3.6% year-on-year to Rs 13,732 crore.
Capital adequacy ratio (Basel III) was flat at 12%.
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