SBI Q3 Results: State Bank of India, the country’s largest government bank, has released its result for the third quarter of the current financial year. The bank’s standalone net profit has increased by 84.32 per cent on a year-on-year basis. Thus, the bank’s net profit was Rs 16,891.44 crore in the December quarter. In the same quarter of a year ago, the company recorded a profit of Rs 9,163.96 crore. But on a quarterly quarterly basis, the bank’s profits have declined by about 8 percent. SBI’s net profit was Rs 18,331 crore during the quarter of July to September 2024. SBI’s stock closed down on Thursday.
Interest income increased
SBI’s interest income was Rs 1,17,427 crore in the third quarter of the current financial year. This is 10 percent more than an interest income of Rs 1,06,734 crore of a year ago. At the same time, the bank’s net interest income (NII) increased by 4 percent to Rs 41,446 crore. There is a difference of interest earned on NII loan and interest paid on deposits. The bank’s operational profit in the third quarter increased by 15.81 per cent to Rs 23,551 crore on an annual basis.
How much is NPA?
Talking about SBI’s asset quality, it was stable compared to the same period of a year ago. The gross NPA ratio for the December quarter was 2.07 percent. This is less than 2.13 percent of the September quarter. At the same time, the net NPA remained stable at 0.53 percent. SBI shares on the Bombay Stock Exchange today closed at Rs 752.35 with a decline of 1.79 per cent or Rs 13.75. The 52 week high of this stock is Rs 912.10. While 52 weeks are Rs 654.15. SBI’s market cap has closed at Rs 6,71,443.79 crore on BSE today.
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