State Bank of India's consolidated net profit for the fiscal first quarter almost tripled from the year-ago period, while asset quality worsened as its nonperforming asset ratios rose.

The bank said consolidated net profit after minority interest rose to 30.32 billion Indian rupees, or 3.70 rupees per share, from 10.46 billion rupees, or 1.35 rupees per share.

The S&P Capital IQ consensus normalized EPS estimate for the first quarter was 3.44 rupees per share.

Interest earned rose to 568.19 billion rupees for the first quarter ended June 30, up from 560.40 billion rupees in the year-ago period. The bank's provisions and contingencies for the quarter fell to 90.51 billion rupees from 131.31 billion rupees in the prior-year period.

Operating profit for the quarter clocked in at 134.17 billion rupees, down from 145.49 billion rupees in the quarter ended June 30, 2016.

The bank said its stand-alone gross NPA ratio increased to 9.97% at June 30, from 6.90% at the end of March and 6.94% a year earlier. Its stand-alone net NPA ratio climbed to 5.97% as of June 30, from 3.71% as of March 31 and 4.05% as of June 30, 2016.

State Bank of India's stand-alone capital adequacy ratio came in at 13.31% at June-end, up from 13.11% at the end of March and down from 14.01% at the end of June 2016.

As of Aug. 10, US$1 was equivalent to 64.08 Indian rupees.