SBI stock dips 3% after weak results

New Delhi: Shares of State Bank of India on Monday settled down nearly three per cent on the bourses after the company reported weak third quarter earnings. Accordingly, the market capitalisation of SBI declined by `6,819 crore to `2.49 lakh crore at the end of today’s trading session. SBI Group on February 9 had reported a massive `1,886.57 crore net loss for the December quarter of the current fiscal as its bad loans and provisions spiked. It had, in contrast, reported a net profit of `2,152.14 crore in the same quarter of the last financial year. — PTI