SBI Q2 Net Profit Rises 14.3% to Rs 23,038 Crore

State Bank of India (SBI) reported a 14.28% year-on-year rise in standalone net profit to Rs 23,038 crore for the September quarter (Q2 FY27) on Tuesday, 3 November, from Rs 20,160 crore a year earlier. Net interest income rose 14.7% to Rs 49,143 crore from Rs 42,847 crore. Provisions and contingencies fell 21.9% to Rs 4,217 crore from Rs 5,400 crore. Profit before tax of Rs 30,009 crore includes an exceptional item of Rs 7,288 crore, a one-time gain from selling part of its stake in SBI Funds Management. Operating profit before provisions was Rs 26,937 crore. Asset quality improved, with the gross NPA ratio at 1.39%, net NPA ratio at 0.36% and provision coverage ratio at 74.43%. Net interest margin was 2.94% for the whole bank and 3.11% for domestic operations. For the first half of FY27, net profit rose 12.31% to Rs 44,159 crore. Consolidated net profit for the quarter was Rs 25,741 crore. The stock traded 0.73% lower at Rs 979.75 after the results. Disclaimer: The views expressed purely for educational and informational purposes and do not constitute financial advice or a recommendation to buy, sell, or hold any security