India's largest public sector lender, State Bank of India [SBI] has reported a profit of Rs 2,910 crores for the third quarter that ended December 2014. The profit is up by 30 percent as SBI reported Rs 2,234 crores for the same quarter a year ago. The total income of SBI rose to Rs 43,784 crore from Rs 39,068 for the previous year. Apart from this, SBI reported net-interest income of Rs 13,777 crores which is higher by nine percent compared to 2013 year.

With the good results, the shares of SBI surged in both the National and Bombay Stock Markets. In BSE, SBI shares ended at Rs 307.05 up by 7.96 percent while in Nifty, the shares settled at Rs 307.70 a jump by 8.23 percent. Although the results were encouraging, the bad loans are still bothering SBI as even they reported an increase by 26 percent from Rs 4,149 crores to Rs 5,235 crores.

The Non-interest income of SBI to rose by Rs 5,238 crores, a hike of 24.27 percent. Overall these results had good impact on the stock market. BSE ened above 29,000 points while NSE ended at 8,805 points.

- TVR