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SBI Q1 profit rises 10 percent to Rs 21,121 crore
Reuters··7 Aug
State Bank of India reported a standalone net profit of Rs 21,121 crore for the April-June quarter, up about 10 percent from Rs 19,160 crore a year earlier and above analysts' estimates. Net interest income rose about 15 percent to Rs 46,992 crore. Gross advances grew strongly and the gross NPA ratio improved to 1.47 percent.
Prism
What It Means For You
- SBI customers and shareholders can see profit and asset-quality metrics improving in the first quarter of FY27.
- Borrowers can note the bank reported strong advance growth across domestic and foreign books.
- Market watchers can compare the beat versus estimates with the wider bank-stock weakness the same day.
What's Happening
- SBI's Q1 net profit rose about 10 percent year on year to Rs 21,121 crore.
- Net interest income increased about 15 percent to Rs 46,992 crore.
- The gross NPA ratio improved to 1.47 percent from 1.83 percent a year earlier.
What The Q1 Numbers Signal
- Profit beat LSEG-compiled analyst estimates that were near Rs 19,000 crore.
- Whole bank advances grew around 19 percent year on year while deposits grew more slowly.
- Management has emphasised digital process changes alongside the earnings print.
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