SBI Reports Strong Q1 FY27, Net Profit Rises 10.2% to ₹21,121 Crore

State Bank of India (SBI) posted a strong performance for the April–June quarter of FY27, reporting a 10.2 percent year-on-year increase in net profit to Rs 21,121 crore, comfortably surpassing the CNBC-TV18 poll estimate of Rs 19,145 crore. In the corresponding quarter last year, the country's largest lender had reported a net profit of Rs 19,160 crore. Net interest income (NII) rose 15 percent year-on-year to Rs 46,992 crore from Rs 40,907 crore, exceeding the market estimate of Rs 45,800 crore. Pre-provisioning operating profit (PPoP) came in at Rs 33,530 crore, well above the CNBC-TV18 poll projection of Rs 30,004 crore. The bank also recorded an improvement in asset quality during the quarter. Gross non-performing assets (NPAs) declined to 1.47 percent from 1.49 percent in the previous quarter, while the net NPA ratio eased to 0.38 percent from 0.39 percent. Following the earnings announcement, SBI shares extended their gains, rising 3.21 percent to trade at Rs 1,119.80 on Friday. On the business growth front, gross advances increased 18.6 percent year-on-year and 2.3 percent sequentially. However, fresh slippages rose to Rs 7,359 crore from Rs 5,548 crore in the preceding quarter, pushing the slippage ratio up to 0.57 percent from 0.47 percent. For the quarter, SBI reported a return on assets (ROA) of 1.11 percent and a return on equity (ROE) of 17.87 percent, reflecting continued profitability despite a rise in loan slippages.