SBI Profit Jumps 67% To Rs 7,627 Crore In September Quarter, Shares Hit Record High | Read
Shares of the country's largest lender - State Bank of India surged as much as 4 per cent to hit record high of Rs 542 after it reported highest -ever quarterly profit in September quarter. SBI's net profit in second quarter of the current financial year jumped 67 per cent to Rs 7,627 crore from Rs 4,574.16 crore during the same quarter last year. Sharp increase in net profit in September quarter came on account of steep decline in provisioning for bad loans and uptick in asset quality.
