SBI Reports 14% Increase in Q2 Profit Amid Improved Asset Quality
SBIs net profit rose 14.3% in Q2 FY27, driven by asset sales and improved asset quality metrics.
Mumbai, November 3 (Daily Kiran) : The State Bank of India (SBI) announced its financial results for the second quarter of FY27, covering the period from July to September. The bank reported a net profit of ₹23,038 crore, a notable increase of 14.3% compared to the same quarter last year. This growth was partly fueled by a one-time income from the sale of a stake in its subsidiary.
During this quarter, SBI gained ₹7,288 crore from selling a 6.30% stake in SBI Funds Management Limited. In the corresponding quarter of FY26, the bank’s net profit stood at ₹20,160 crore.
SBI’s net interest income (NII) also saw a significant rise, climbing 15% year-on-year to reach ₹49,143 crore, up from ₹42,847 crore in the previous fiscal year. However, the bank’s operating profit for this quarter fell by 1.4% to ₹26,937 crore compared to ₹27,311 crore in the same quarter last year.
Additionally, provisions for the current quarter decreased to ₹4,217 crore, down from ₹5,400 crore in the same period last year and ₹5,047 crore in the previous quarter.
The bank also reported improvements in asset quality, with gross non-performing assets (NPA) at 1.39%, down from 1.47% in the first quarter of FY27. The net NPA also decreased to 0.36%, compared to 0.38% in the previous quarter.
Despite these positive results, SBI’s shares experienced a decline, trading at ₹979, down 0.76% by 2:44 PM. Over the past month, the stock has shown a return of -1.99%, with a six-month return of -8.61%.
