SBI net profit drops 61.7% to ₹1,115 crore in Q3
State Bank of India (SBI) on Thursday reported a 61.7% drop in net profit to ₹1,115 crore for the quarter ended December. SBI was hit by a 60% jump in provisions for bad loans. Gross bad loans as a percentage of total loans increased to 5.1% from 4.15% in the year-ago period. However, total income grew 6.7% to ₹46,731 crore.