SBI posts first profit in four quar­ters

Mint ST - - FRONT PAGE -

crore in the pre­ced­ing three months. Profit de­clined 40% from ₹1,582 crore in the year­ago pe­riod. The Septem­berquar­ter profit, how­ever, beat the ₹439.2 crore es­ti­mate of 14 an­a­lysts in a Bloomberg sur­vey.

The bank would have posted yet an­other quar­ter of loss if not for a one-time gain of ₹1,087 crore from sale of in­vest­ment in the mer­chant bank­ing busi­ness and ₹473 crore from a stake sale in in­surer SBI Gen­eral. “Though the profit is mod­est, there is no look­ing back,” SBI chair­man Ra­jnish Ku­mar said at a press con­fer­ence on Mon­day. “From here on, this num­ber will only be big­ger and bet­ter. We have com­plete con­trol over the de­mon of NPA.” See Page 5

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