Latest News | SBI Shares Decline Nearly 4 Pc After Quarterly Earnings
Get latest articles and stories on Latest News at LatestLY. Shares of State Bank of India on Friday declined nearly 4 per cent after the company's fourth quarter earnings failed to cheer investors.
New Delhi, May 13 (PTI) Shares of State Bank of India on Friday declined nearly 4 per cent after the company's fourth quarter earnings failed to cheer investors.
The stock tanked 3.76 per cent to end at Rs 445.05 apiece on the BSE. During the day, it tumbled 4.85 per cent to Rs 440.
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SBI was the biggest laggard in the Sensex pack.
On the NSE, it declined 3.89 per cent to settle at Rs 444.65 apiece.
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The company's market valuation declined by Rs 15,528.16 crore to Rs 3,97,189.84 crore on the BSE.
In volume terms, 21.63 lakh shares were traded on the BSE and over 6.14 crore shares on the NSE during the day.
On Friday, the country's largest lender SBI posted a 41 per cent jump in standalone net profit at Rs 9,114 crore for the fourth quarter ended March 2022, helped by decline in bad loans.
SBI had registered a profit of Rs 6,451 crore during the January-March period of 2020-21.
Total income of the bank during the March quarter increased marginally to Rs 82,613 crore, from Rs 81,327 crore in the year-ago period.
On a consolidated basis, the bank reported a 56 per cent increase in net profit at Rs 9,549 crore. It stood at Rs 6,126 crore in the fourth quarter of financial year 2020-2021.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)