Shares of SBI fall on weak Q3 earnings

The shares of State Bank of India (SBI) today fell more than 3% in the morning trade on the bourses after it reported last week a Rs 1,886.57 crore net loss for the December quarter of the current financial year.
 
The country's largest lender's loss was due to its bad loans and increased provisions. It had reported a net profit of Rs 2,152.14 crore for the same quarter a year ago.
 
The company opened at Rs 288 and slumped 3.85% to touch an intra-day low of Rs 285 in morning trade on the BSE.
 
Its net bad loans ratio spiking to 5.61% of advances, from 4.24% during the third quarter.
 
The gross dud assets ratio jumped from 7.23% to 10.35% during the quarter under review.