The country's largest bank posted a multi-fold jump in consolidated net profit at Rs 1,840.43 crore for the second quarter ended on September 30, boosted by sale of its stake in SBI Life Insurance.
Its profit was just Rs 20.70 crore in the corresponding quarter of the last financial year.
On a standalone basis, SBI's profit declined 37.9 per cent to Rs 1,581.55 crore, from Rs 2,538.32 crore on account of a rise in bad loans.
As of September 30, the bank's gross NPAs deteriorated to 9.83 per cent of gross advances, compared with 7.14 per cent year a year ago. Similarly, the net NPAs rose to 5.43 per cent from 4.19 per cent.
At 2:28 pm, SBI shares were trading 5.69 per ent higher at Rs 331.60 apiece on the BSE, whose benchmark Sensex index was down 27.06 points, or 0.08 per cent.
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