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SBI Q4 profit at Rs 838 cr way below Street estimates

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Public lender State Bank of India on Friday posted a profit of Rs 838.40 crore for March quarter against a loss of Rs 7,718.17 crore in the corresponding quarter last year. Analysts in an ET NOW poll had projected a profit of Rs 4,890 crore. Asset quality of the lender improved with percentage of gross non-performing assets (NPAs) easing to 7.73 per cent from 8.71 per cent on a sequential basis. Net NPA improved QoQ to 3.01 per cent from 3.95 per cent.

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