SBI Q3 results: Standalone Net Profit Surges 84% to Rs 16,891 Cr

SBI, the biggest lender in the nation, announced on Thursday that its standalone net profit for the December quarter increased by 84% to Rs 16,891 crore. In the previous year, the State Bank of India (SBI) generated a net profit of Rs 9,164 crore on its own.

According to a regulatory statement from SBI, the bank's overall revenue increased to Rs 1,28,467 crore in the third quarter of the current fiscal year from Rs 1,18,193 crore in the same time last year.

The bank's interest income increased to Rs 1,17,427 crore during the quarter from Rs 1,06,734 crore in the same period last year. The bank's gross non-performing assets (NPA) moderated to 2.07 percent at the end of December from 2.42 percent at the beginning, indicating an improvement in asset quality. Similarly, net Non-Performing Assets (NPAs) also eased to 0.53 percent against 0.64 percent at the end of the same period a year ago.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : EPFO Achieves Milestone; processed over 5.08 crore claims to Rs. 2,05,932.49 crore

On a consolidated basis, SBI Group's net profit rose by 70 percent to Rs 18,853 crore over Rs 11,064 crore in FY24. Consolidated total income increased to Rs 1,67,854 crore over Rs 1,53,072 crore in the third quarter of the preceding fiscal.

Shares of the SBI are trading lower by 1.58% at Rs 753.95. The dividend yield of the bank is at 1.82%.

Read Also : CMD, NLCIL, Prasanna Kumar Motupalli, Chief Guest at Anna University Graduation Day