State Bank of India Q2 profit misses estimates

State Bank of India, the nation`s biggest lender by assets, reported a second-quarter net profit of 15.82 billion rupees ($243.3 million), missing estimates, on higher provisions for bad loans.

Analysts on average had expected a net profit of 26.96 billion rupees, according to Thomson Reuters data.

Gross bad loans as a percentage of total loans stood at 9.83 percent at end-September compared with 9.97 percent at end-June.

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($1 = 65.0350 Indian rupees)

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)