MUMBAI, 20th October, 2016 (GPN) : public sector lender State Bank of Bikaner and Jaipur (SBBJ) has posted a loss of Rs 210 crore in July-September quarter against profit of Rs 180 crore in year-ago period. Higher provisions and lower net interest income impacted profitability but other income and tax write-back limited losses.

Net interest income during the quarter declined 5.1 percent to Rs 776.6 crore while treasury gains lifted non-interest income (other income) 37 percent to Rs 287.7 crore YoY. Operating profit grew by 2.5 percent to Rs 523.4 crore on yearly basis.

Asset quality deteriorated further in Q2 with gross non-performing assets (NPA) as as percentage of gross advances climbing 430 basis points QoQ to 10.5 percent and net NPA rising 352 bps to 7.17 percent.

In absolute terms, gross NPA shot up 67 percent to Rs 7,669.2 crore and net NPA 91.6 percent to Rs 5,032.8 crore compared with preceding quarter.

Provisions for bad loans jumped quite sharply by 259 percent to 850 crore on yearly basis but declined 14.6 percent sequentially.

The state-run lender has tax write-back of Rs 116.51 crore during the quarter against tax expenses of Rs 93.12 crore in same period last year.

At 13:41 hours IST, the stock was quoting at Rs 696.45, down Rs 3.30, or 0.47 percent on the BSE.

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