State Bank of India (SBI), the largest public sector lender, today reported a rise of 30.26% in standalone net profit to Rs 29.10 billion for the quarter ended Dec. 31, 2014 as compared to Rs 22.34 billion in the same period last year. Analysts on average had predicted net profit to come at Rs 32.54 billion.
Total income increased by 12.07% to Rs 437.84 billion for the quarter ended Dec. 31, 2014 as compared to Rs 390.68 billion in the same period last year.
Shares of the bank gained Rs 12.9, or 4.54%, to trade at Rs 297.30. The total volume of shares traded was 4,709,790 at the BSE (12.30 p.m., Friday).