State Bank of India (SBI), the largest public sector lender, today reported a rise of 23.09% in standalone net profit to Rs 37.42 billion for the quarter ended Mar. 31, 2015 as compared to Rs 30.40 billion in the same period last year. Analysts on average had predicted net profit to come at Rs 34.81 billion.
 
Total income increased by 14.54% to Rs 486.16 billion for the quarter ended Mar. 31, 2015 as compared to Rs 424.43 billion in the same period last year.

The bank has made provision of Rs 65.92 billion, which was higher by 11.90% from prior year period.

Net NPAs were at Rs 275.9 billion for the quarter ended Mar. 31, 2015, as compared to Rs 310.96 billion in the same period last year, representing decrease of 11.27%. In percentage term, net NPAs were at 2.12% at the end of the quarter lower than 2.57% from last year period.
 
Capital adequacy ratio (CAR) of the bank under Basel III was at 12% as on Mar. 31, 2015.

The board of directors of the bank have declared a dividend of Rs 3.50 a share i.e. 350% for the financial year 2015.

Shares of the bank gained Rs 9.45, or 3.27%, to trade at Rs 298.80. The total volume of shares traded was 4,615,163 at the BSE (1.32 p.m., Friday).