SBBJ shares down nearly 3% as Q3 net profit nosedives

The State Bank of Bikaner & Jaipur ’s net profit fell sharply by 72% to Rs57.84 crore in the quarter ended 31 December, on mounting bad loans and fall in core income


SBBJ’s net profit fell sharply by 72% in the third quarter ended 31 December 2016. Photo: Bloomberg
SBBJ’s net profit fell sharply by 72% in the third quarter ended 31 December 2016. Photo: Bloomberg

New Delhi: Shares of State Bank of Bikaner & Jaipur (SBBJ) fell by nearly 3% on Friday after its net profit fell sharply by 72% in the third quarter ended 31 December 2016. The stock fell 2.91% to end at Rs676.45 on BSE. During the day, it went down by 4.32% to Rs666.60.

On NSE, it declined by 2.44% to close at Rs677.40. SBBJ’s net profit fell sharply by 72% to Rs57.84 crore in the quarter ended 31 December, on mounting bad loans and fall in core income.

The bank’s net profit in October-December quarter of previous fiscal stood at Rs206.13 crore, SBBJ said in a BSE filing on Friday.

“Total income of the bank rose marginally at Rs2,645.82 crore during the quarter under review as against Rs2,636.56 crore earned in the same period year ago,” according to the filing.

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