SBIN Q1 FY27 Results: Profit Climbs 10% to ₹21,121 Crore, Surpasses Estimates; Shares Rally 3%

(SBI) delivered a stronger-than-expected performance in the first quarter of FY27, with net profit rising 10.2% year-on-year. Robust growth in net interest income and an improvement in asset quality further supported the results, sending the stock more than 3% higher. India’s largest public-sector lender, State Bank of India (SBI), reported a standalone net profit of ₹21,121 crore for the April–June quarter of FY27, marking a 10.2% increase from ₹19,160 crore recorded in the corresponding period last year. The result exceeded the CNBC-TV18 poll estimate of ₹19,145 crore. Net interest income (NII) increased 15% YoY to ₹46,992 crore, compared with ₹40,907 crore a year earlier and the Street expectation of ₹45,800 crore. Pre-provision operating profit (PPoP) came in at ₹33,530 crore, comfortably above the poll estimate of ₹30,004 crore. SBI’s asset quality also strengthened sequentially. The gross non-performing asset (NPA) ratio improved to 1.47% from 1.49% in the previous quarter, while the net NPA ratio declined to 0.38% from 0.39%. Following the earnings announcement, SBI shares advanced 3.21% to ₹1,119.80 on Friday, reflecting positive investor sentiment toward the quarterly performance. Meanwhile, provisions increased to ₹5,047 crore, compared with ₹2,872 crore in the previous quarter and ₹4,759 crore in the year-earlier period. Despite the rise in provisions, credit cost remained steady at 0.27% sequentially, while improving significantly from 0.47% a year ago. The bank’s domestic net interest margin (NIM) stood at 3%, while the overall bank NIM expanded by 5 basis points sequentially to 2.86%. On the loan growth front, gross advances increased 18.6% YoY and 2.3% sequentially during the quarter, highlighting continued momentum in SBI’s credit portfolio. Investment in securities market are subject to market risks. Read all the related documents carefully before investing,