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21 June, 2018 02:10 IST
State Bank of India turns to loss in Jan-Mar quarter
Source: IRIS | 22 May, 2018, 03.25PM
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State Bank Of India (SBI) swung to a loss for the quarter ended March 2018. During the quarter, the bank reported a loss of Rs 77,181 million compared with a profit of Rs 28,148 million in the same quarter previous year.

Total Income for the quarter rose 18.57% to Rs 684,360 million, compared with Rs 577,200 million for the prior year period.

Operating Profit declined by 8.24% from Rs 173.09 billion in Q4FY17 to Rs 158.83 billion in Q4FY18.

Net Interest Income declined by 5.18% from Rs 210.65 billion in Q4FY17 to Rs 199.74 billion in Q4FY18, contributed mainly by reduction in MCLR & Base Rate and increase in NPAs.

Non-Interest Income improved by 2.23% from Rs 122.22 billion in Q4FY17 to Rs 124.95 billion in Q4FY18, driven mainly by higher fee income and recovery in written off accounts.

Shares of the bank gained Rs 8.15, or 3.33%, to trade at Rs 253.25. The total volume of shares traded was 4,054,215 at the BSE (3.13 p.m., Tuesday).

State Bank Of India   (Q,N,C,F)*

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