State Bank of India (SBI) has reported a net profit of INR15.82bn ($241.7m) for the second quarter of fiscal 2018, compared to a loss of INR5.57bn ($85.1m) a year ago.
The bank’s operating profit for the quarter stood at INR200bn, a 43% surge compared to INR139.9bn in the last year.
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The lender’s total income increased 9% to INR708.66bn from INR649.67bn a year ago, while operating expenses rose 3% year-on-year to INR146bn.
The bank’s net interest income increased 2% to INR185.86bn from INR181.2bn in the previous year.
The bank’s gross non-performing assets (NPAs) ratio was 9.83% at the end of September 2017, down from 9.97% reported in the June quarter and up from 8.52% a year ago.
Net NPA ratio stood at 5.43% at the end of September 2017, as against 5.97% at the end of June 2017 and 5.12% at the end of September 2016.
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