Shares of State Bank of India on Wednesday gained nearly 2 per cent after the company reported a 69 per cent jump in consolidated net profit for the second quarter ended September.
The stock jumped 1.14 per cent to close at Rs 527.65 on BSE. During the day, it gained 3.92 per cent to reach its 52-week high of Rs 542.20.
On NSE, it went higher by 1.76 pe cent to close at Rs 530.90.
In volume terms, 35.91 lakh shares were traded on BSE and over 8 crore on NSE.
The country's largest lender on Wednesday reported a 69 per cent jump in consolidated net profit to Rs 8,889.84 crore for the second quarter ended September 30, mainly due to a decline in bad loans.
The bank's net profit was Rs 5,245.88 crore in the July-September quarter of the previous fiscal, SBI said in a regulatory filing.
The total income of the SBI group rose to Rs 1,01,143.26 crore in the quarter under review, compared to Rs 95,373.50 crore in the year-ago period.
On a standalone basis, the bank's net profit rose 67 per cent to Rs 7,627 crore against Rs 4,574.16 crore.
Asset quality of the bank improved with the gross non-performing assets (NPAs) declining to 4.90 per cent of the gross advances as of September 30, 2021, from 5.28 per cent a year ago.
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