SBI Reports Strong First Quarter Profit of Rs 24113 Crore with Improved Asset Quality
State Bank of India posted robust quarterly earnings driven by higher income improved profitability and better asset quality while reducing bad loan provisions during the June quarter of the financial year.
State Bank of India has delivered another strong financial performance for the quarter ended June, reporting healthy growth in profitability and continued improvement in asset quality. The country’s largest public sector lender registered higher earnings compared to both the corresponding period last year and the previous quarter, reflecting stable business momentum.
On a consolidated basis, SBI posted a net profit of Rs 24113 crore during the June quarter. This marks a year on year growth of 13.73 percent compared with a profit of Rs 21201.47 crore recorded in the same quarter of the previous financial year. The latest figure is also higher than the Rs 19642.87 crore profit reported in the March quarter.
The bank also recorded solid growth in its standalone financial performance. According to its regulatory filing, standalone net profit increased by 10.23 percent to Rs 21121.22 crore from Rs 19160.44 crore reported a year earlier, indicating sustained operational strength across its core banking business.
SBI’s total income witnessed steady growth during the reporting period. The bank earned approximately Rs 1.43 lakh crore during the quarter, compared with around Rs 1.35 lakh crore in the corresponding period last year. While overall expenditure also increased from nearly Rs 1.04 lakh crore to Rs 1.10 lakh crore, the rise in income helped support stronger profitability.
Another encouraging aspect of the quarterly results was the improvement in asset quality. Provisions made for non performing assets declined significantly from Rs 4934 crore to Rs 3359 crore, reflecting lower stress in the loan portfolio. The bank also reported a marginal improvement in its net non performing asset ratio, which fell from 1.49 percent to 1.47 percent.
The positive financial results were welcomed by investors, with SBI shares trading higher on the Bombay Stock Exchange following the announcement. The stock gained more than two percent during trading, reflecting market confidence in the bank’s earnings performance and improving financial position.
The latest quarterly results reinforce SBI’s position as India’s leading public sector bank, supported by consistent profit growth, healthy revenue expansion, and improving asset quality amid a competitive banking environment.
