India Cements Q2 net profit down 62 pc to Rs 23.67 cr

India Cements Q2 net profit down 62 pc to Rs 23.67 cr

State Bank's net interest income during the quarter in review, at Rs 18,586 crore, rose 5.57 per cent over the previous quarter but was a 2.58 per cent improvement over this income in the same quarter past year at Rs 18,119 crore.

During April-September period, its net profit stood at Rs 195.89 crore, up from Rs 169.53 crore a year ago. Net interest income rose nearly 3 percent from a year earlier to 185.86 billion rupees while total provisions including for bad loans rose almost 27 percent to 184.18 billion rupees, the lender, majority owned by the Indian government, said on Friday. SBI, which accounts for more than a fifth of India's banking assets, said gross bad loans as a percentage of total loans fell to 9.83 per cent at the end of September from 9.97 per cent three months earlier.

India Cements today reported 62.07 per cent decline in its standalone net profit to Rs 23.67 crore for the September quarter of the current fiscal.

In absolute terms, its gross NPAs rose to Rs 1,86,114.60 crore, from Rs 1,05,782.96 crore in the second quarter of the previous fiscal.

The lender's non-interest income at Rs 16,016 crore was a 58 per cent increase over the same quarter past year at Rs 10,146 crore and double over the previous quarter's Rs 8,006 crore.

SBI shares were trading at Rs 329.50, up 5.02 per cent on BSE.

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