The State Bank of India on Friday posted a profit of Rs 3,032 crore for the quarter that ended in June, 2017. While this is a three-fold increase in profit for the bank year-on-year, its bad loans rose sharply in the three-month period, according to its stock exchange filing.

The gross non performing assets for the largest banking entity in the country jumped to Rs 1.88 lakh crore from Rs 1.12 lakh crore in the fourth quarter of 2016-17, while net NPAs also rose to Rs 1.07 lakh crore from Rs 58,277 crore.

This led to a spike in the Gross NPA ratio to 9.97% from 6.9% in the previous quarter. Gross NPA percentage measures the total amount of non-performing or delayed loans as a ratio of total advances provided by the bank during a certain period.

Higher NPAs led to worse returns for the bank as its return on assets – which is a ratio of net income to total assets – declined to 0.25% in the quarter ended June this year from 0.43% in the quarter before that.

While the bank posted profits, its pile of bad loans had a stronger effect on the stock markets. The bank’s stock price fell as much as 6.1% after the results were announced.