SBI reports over two fold jump in Q1 net profit

State Bank of India (SBI) has reported results for first quarter ended June 30, 2012.

The bank has registered a surge of 136.91% in its net profit at Rs 3751.56 crore for the quarter under review as compared to Rs 1583.55 crore for the same quarter in the previous year. Total income of the bank has increased by 16.89% at Rs 32415.49 crore for Q1FY13 as compared Rs 27731.67 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) rose to 4.99% in the April-June quarter as against 3.52% in the same quarter previous year while net NPAs increased to 2.22%.