SBI Q2 results: Net profit rises 14% to Rs 23,038 crore, aided by exceptional gain; NII beats estimates
SBI Q2 FY27 results: Net profit rose 14.3% YoY to Rs 23,038 crore, beating estimates, helped by an exceptional gain of Rs 7,289 crore. NII climbed 14.7%. Asset quality improved, but operating profit missed expectations. SBI shares fell 1.7%.
State Bank of India (SBI), the country's largest lender, reported a 14.3 percent year-on-year rise in net profit to Rs 23,038 crore for the fiscal second quarter, aided by an exceptional gain of Rs 7,289 crore, compared with Rs 4,593 crore a year earlier. The profit exceeded the CNBC-TV18 poll estimate of Rs 22,859 crore. The bank's net interest income (NII), the difference between interest earned and interest paid, rose 14.7 percent YoY to Rs 49,143 crore from Rs 42,847 crore a year earlier, also beating the CNBC-TV18 poll estimate of Rs 47,901 crore.
