SBI shares up nearly 5% as Q2 net profit surges

Mumbai: SBI stock on Friday rose by nearly 5 percent after the country's largest bank posted 25 percent rise in standalone net profit for the second quarter ended September 30.

The stock climbed 4.48 percent to Rs 244.70 on BSE. On NSE, it gained 4.66 percent to Rs 244.80.

The bluechip stock was the top gainer on Sensex and Nifty indices.

State Bank of India today posted 25 percent rise in standalone net profit at Rs 3,879.07 crore for the July- September quarter of the current financial year.

The state-owned bank had standalone net profit of Rs 3,100.41 crore in the same quarter of last fiscal.

Its total income increased to Rs 46,854.81 crore during the quarter as against Rs 41,833.36 crore a year earlier.

On consolidated basis, the bank has reported net profit of Rs 4,991.70 crore for the quarter under review, compared with Rs 4,023.84 crore in the year-ago period.