SBI shares up nearly 7% after jump in third quarter net profit

Shares of State Bank of India climbed nearly 7% on Friday after it reported over 30% jump in net profit for the third quarter ended December 2014.

The stock surged 6.68% to Rs 303.40 at the BSE.

On the NSE, it soared 6.75% to Rs 303.50.

The stock was the top gainer among the blue-chip scrips on both Sensex and Nifty.

The country's largest public sector lender State Bank of India (SBI) today reported over 30 per cent jump in net profit at Rs 2,910 crore for the third quarter ended December 2014 on the back of stronger other income despite higher provisioning for bad loans.

SBI had reported a net profit of Rs 2,234.34 crore in the year-ago period.

The total income of the bank rose to Rs 43,784 crore in the October-December quarter as against Rs 39,068 crore during the corresponding quarter of the previous fiscal, it had said in a BSE filing.

Besides, its net interest income rose nine per cent to Rs 13,777 crore from Rs 12,640 crore during the review period.