scorecardresearchSBI Q3 net profit jumps 62% to ₹15,477 crore; asset quality improves

SBI Q3 net profit jumps 62% to 15,477 crore; asset quality improves

Updated: 03 Feb 2023, 06:18 PM IST
TL;DR.
  • On a standalone basis, the lender's net post-tax profit grew to 14,205 crore during the October-December 2022 period, which was up from 8,432 crore in the year-ago period and 13,265 crore in the preceding July-September quarter.
The provisions for non-performing assets nearly halved to  <span class='webrupee'>₹</span>1,586 crore for the reporting quarter.

The provisions for non-performing assets nearly halved to 1,586 crore for the reporting quarter.

(PTI) Country's largest lender State Bank of India on Friday reported a 62 per cent growth in its net profit at 15,477 crore during the quarter ended December 2022.

On a standalone basis, the lender's net post-tax profit grew to 14,205 crore during the October-December 2022 period, which was up from 8,432 crore in the year-ago period and 13,265 crore in the preceding July-September quarter.

The public sector lender's total income grew to 98,084 crore from 78,351 crore in the year-ago period, while the operating expenses were up at 24,317 crore from 20,839 crore, as per an exchange filing.

The provisions for non-performing assets nearly halved to 1,586 crore for the reporting quarter.

The gross non-performing assets ratio reduced to 3.14 per cent as against 3.52 per cent three months ago and 4.50 per cent in the year-ago period.

The SBI scrip gained 3.12 per cent to close at 544.45 a piece on the BSE, as against a 1.52 per cent jump on the benchmark.

 

 

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First Published: 03 Feb 2023, 06:18 PM IST