SBI profit down by 66%

Country's largest lender SBI on Friday posted 66 per cent slump in standalone profit to Rs 1,263.81 crore for the fourth quarter of last fiscal ended March 31 as it more than doubled the provisions for bad loans. State Bank of India had reported net profit of Rs 3,742.02 crore in the corresponding, January-March quarter of the previous fiscal 2014-15.