<p>Shares of State Bank of India on Friday gained 5 per cent after the company reported an 80 per cent surge in standalone net profit for the fourth quarter ended March 2021.</p>.<p>The stock rallied 4.30 per cent to close at Rs 401.10 on the BSE. During the day, it jumped 5.16 per cent to Rs 404.40.</p>.<p>On the NSE, it gained 5.05 per cent to close at Rs 404.</p>.<p>The company's market valuation zoomed Rs 14,771.17 crore to Rs 3,57,966.17 crore on the BSE.</p>.<p>In traded volume terms, 94.17 lakh shares were traded at the BSE and over 19.28 crore units at the NSE during the day.</p>.<p>The country's largest lender SBI on Friday reported an 80 per cent surge in standalone net profit at Rs 6,450.75 crore for the fourth quarter ended March 2021, aided by a decline in bad loans.</p>.<p>State Bank of India (SBI) had earned a profit of Rs 3,580.81 crore during the January-March period of 2019-20, the lender said in a regulatory filing.</p>.<p>Total income of the bank during the March quarter of the last financial year rose to Rs 81,326.96 crore from Rs 76,027.51 crore in the same period of 2019-20.</p>.<p>During the quarter under review, net interest income rose 19 per cent to Rs 27,067 crore, from Rs 22,767 crore in the same period a year ago.</p>.<p>On a consolidated basis, the bank reported a 60 per cent increase in net profit at Rs 7,270.25 crore, compared to Rs 4,557.49 crore in the fourth quarter of the financial year 2019-20.</p>.<p>With regard to asset quality, gross non-performing assets (NPAs) of the bank improved to 4.98 per cent of gross advances as of March 31, 2021, as against 6.15 per cent in the same period of 2020.</p>.<p>It further said that in absolute terms gross NPAs declined to Rs 1,26,389 crore in March 2021 from Rs 1,49,092 crore in the same period last year.</p>.<p>Net NPA or bad loans too came down to 1.50 per cent as on March 31, 2021, from 2.23 per cent in the year-ago period. The net NPA in absolute terms eased to Rs 36,810 crore from Rs 51,871 crore in March 2020.</p>.<p>As a result, the provision for bad loans moderated by 17 per cent to Rs 9,914 crore, as compared to Rs 11,894 crore in the fourth quarter of the previous fiscal.</p>
<p>Shares of State Bank of India on Friday gained 5 per cent after the company reported an 80 per cent surge in standalone net profit for the fourth quarter ended March 2021.</p>.<p>The stock rallied 4.30 per cent to close at Rs 401.10 on the BSE. During the day, it jumped 5.16 per cent to Rs 404.40.</p>.<p>On the NSE, it gained 5.05 per cent to close at Rs 404.</p>.<p>The company's market valuation zoomed Rs 14,771.17 crore to Rs 3,57,966.17 crore on the BSE.</p>.<p>In traded volume terms, 94.17 lakh shares were traded at the BSE and over 19.28 crore units at the NSE during the day.</p>.<p>The country's largest lender SBI on Friday reported an 80 per cent surge in standalone net profit at Rs 6,450.75 crore for the fourth quarter ended March 2021, aided by a decline in bad loans.</p>.<p>State Bank of India (SBI) had earned a profit of Rs 3,580.81 crore during the January-March period of 2019-20, the lender said in a regulatory filing.</p>.<p>Total income of the bank during the March quarter of the last financial year rose to Rs 81,326.96 crore from Rs 76,027.51 crore in the same period of 2019-20.</p>.<p>During the quarter under review, net interest income rose 19 per cent to Rs 27,067 crore, from Rs 22,767 crore in the same period a year ago.</p>.<p>On a consolidated basis, the bank reported a 60 per cent increase in net profit at Rs 7,270.25 crore, compared to Rs 4,557.49 crore in the fourth quarter of the financial year 2019-20.</p>.<p>With regard to asset quality, gross non-performing assets (NPAs) of the bank improved to 4.98 per cent of gross advances as of March 31, 2021, as against 6.15 per cent in the same period of 2020.</p>.<p>It further said that in absolute terms gross NPAs declined to Rs 1,26,389 crore in March 2021 from Rs 1,49,092 crore in the same period last year.</p>.<p>Net NPA or bad loans too came down to 1.50 per cent as on March 31, 2021, from 2.23 per cent in the year-ago period. The net NPA in absolute terms eased to Rs 36,810 crore from Rs 51,871 crore in March 2020.</p>.<p>As a result, the provision for bad loans moderated by 17 per cent to Rs 9,914 crore, as compared to Rs 11,894 crore in the fourth quarter of the previous fiscal.</p>