SBI Q2 net profit rises to ₹230 billion.

State Bank of India

reported standalone Q2 net profit of ₹230 billion, up from ₹201 billion year-on-year. The result was above the estimate of ₹228.6 billion. Revenue rose to ₹1.32 trillion from ₹1.2 trillion. Gross NPA improved to 1.39 percent from 1.47 percent quarter-on-quarter. Net NPA fell to 0.36 percent from 0.38 percent. Better asset quality and higher profit mark a solid quarter for the bank. Key numbers are Q2 profit of ₹230 billion, GNPA at 1.39 percent and NNPA at 0.36 percent. The beat and cleaner books may support near-term interest in the stock. Peers such as HDFC Bank, ICICI Bank and Bank of Baroda could face relative comparison on profitability and asset quality. Risks include higher provisions or slower loan growth. Competitors listed: HDFC Bank, ICICI Bank, Bank of Baroda. We have no financial interest in this news.