SBI Q4 Result - Profit down 99%, stock tumble

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SBI reports dismal Q4 results on account of higher provisioning. Fourth Quarter profit is down almost 99% to Rs 21 Crore vs the expectation of Rs 2963 crores, on higher provisioning.

The Bank has made a provision of Rs 4157 crore versus Rs 2349 crore a year ago.

Following the worse-than-expected results, shares of SBI plunged more than 7% to Rs 2,416 on the NSE.

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