SBI Q1 Results: State Bank of India (SBI) on Friday, 7 August, reported a 10.23% year-on-year (YoY) rise in its standalone net profit for the June quarter (Q1FY27) to ₹21,121.22 crore, compared with ₹19,160.44 crore in the same period last year.
The public lender earned an interest income of ₹46,992 crore in the quarter under review, up 14.88% from ₹40,907 crore in the year-ago period.
SBI reported a sequential improvement in asset quality during the June quarter, with the gross non-performing asset (GNPA) ratio declining to 1.47% from 1.49% in the previous quarter. The net NPA ratio also improved marginally to 0.38%, compared with 0.39% in the March quarter.
The bank’s provisions increased to ₹5,047 crore in Q1 FY27 from ₹2,872 crore in the preceding quarter and ₹4,759 crore in the corresponding quarter last year. Despite higher provisioning, the credit cost remained stable sequentially at 0.27% and improved from 0.47% a year ago.
SBI’s domestic net interest margin (NIM) stood at 3%, while the whole-bank NIM expanded by 5 basis points quarter-on-quarter to 2.86%.
On the business front, gross advances grew 18.6% year-on-year and 2.3% quarter-on-quarter. However, fresh slippages rose to ₹7,359 crore during the quarter from ₹5,548 crore in the previous quarter, pushing the slippage ratio up to 0.57% from 0.47% sequentially.
