NATURAL GAS BUY 185 SL 182 TGT 191 NATURAL GAS BUY 185 SL 182 TGT 191

NATURAL GAS BUY 185 SL 182 TGT 191

NATURAL GAS BUY 185 SL 182 TGT 191

Copper Futures Down 0.25% On Tepid Spot Demand

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• Copper Futures Down 0.25% On Tepid Spot Demand

SBI Q1 profit down 32%

Provision coverage ratio stood at 61.57 percent in June 2016, which improved compared to 60.69 percent in March 2016. Asset quality looked more or less stable, though it weakened a bit. Gross non-performing assets (NPA) as a percentage of gross advances increased 44 basis points to 6.94 percent and net NPA 24 basis points to 4.05 percent on sequential basis.

 

SBI said fresh slippages stood at Rs 8,790 crore for the quarter, including corporate slippages at Rs 3,681 crore. That was sharply lower compared to Rs 30,313 crore in preceding quarter.

Non-interest income (other income) in Q1 shot up 44.2 percent Rs 7,335 crore and operating profit increased 20.1 percent to Rs 11,053.9 crore compared with year-ago period. Tax expenses declined 26 percent to Rs 1,120 crore in same period.

Credit cost ratio improved to 1.68 percent in June quarter against 3.64 percent in March quarter. At 13:01 hours IST, the scrip of State Bank of India was quoting at Rs 245.00, up Rs 18.05, or 7.95 percent amid high volumes on the BSE.