Tuesday, May 17, 2011

SBI Q4 Result - Profit down 99%, stock tumble

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.

No comments:

Post a Comment

15 Stock Investment Tips from Rakesh Jhunjhunwala

1. Always go against tide. Buy when others are selling and sell when others are buying.  2. If you believe in the growth prospects o...