SBI beats Street estimates, net profit rises 8 per cent to Rs 14,330 crore

• 05-Nov-2023
• 329

(SBI) reported a net profit of Rs 14,330 crore for the July-September FY24 quarter, marking a 8-percent jump from Rs 13,265 crore clocked a year ago. The country’s largest lender on November 4 beat the market estimates of Rs 14,221 crore net profit the quarter. Shares of SBI closed November 3 trading at Rs 578.15 apiece on the BSE, unchanged from previous close. The net interest income (NII) stood at Rs 39,500 crore, which increased by 12.3 percent as compared to Rs 31,184 crore reported in the corresponding quarter of the previous fiscal The bank's gross non-performing asset (NPA) stood at 2.55 percent, down from 3.52 percent recorded in the same quarter last year. On the other hand, net NPA for the quarter stood at 0.64 percent, improving from 0.80 percent on a year-on-year basis.