SBI Q2 Profit Rises 9.13% to Rs 16,099 Crore
By Rediff Money Desk, MUMBAI Nov 04, 2023 14:12
SBI reported a 9.13% increase in consolidated net profit for the September quarter, reaching Rs 16,099.58 crore, driven by improved asset quality and strong growth in total income.
![SBI Q2 Profit Rises 9.13% to Rs 16,099 Crore](https://im.rediff.com/money/2017/aug/11sbi.jpg)
Mumbai, Nov 4 (PTI) The country's largest lender SBI on Saturday reported a 9.13 per cent growth in consolidated net profit for the September quarter to Rs 16,099.58 crore.
The state-run lender had reported a consolidated net profit of Rs 14,752 crore in the year-ago period and Rs 18,356 crore in the June quarter.
On a standalone basis, it posted a net profit of Rs 14,330.02 crore as against Rs 13,264.52 crore in the year-ago period.
The bank, which controls over a fifth of the overall market and has the widest network in the country, reported a total income of over Rs 1.12 lakh crore for the quarter under review, up from Rs 88,733 crore in the year-ago period.
From an asset quality perspective, its gross non-performing assets ratio was at 2.55 per cent as of September 30, an improvement from the 3.52 per cent in the year-ago period and the 2.76 per cent in the first quarter of the current fiscal.
Its overall capital adequacy stood at 14.28 per cent as of September 30.
The state-run lender had reported a consolidated net profit of Rs 14,752 crore in the year-ago period and Rs 18,356 crore in the June quarter.
On a standalone basis, it posted a net profit of Rs 14,330.02 crore as against Rs 13,264.52 crore in the year-ago period.
The bank, which controls over a fifth of the overall market and has the widest network in the country, reported a total income of over Rs 1.12 lakh crore for the quarter under review, up from Rs 88,733 crore in the year-ago period.
From an asset quality perspective, its gross non-performing assets ratio was at 2.55 per cent as of September 30, an improvement from the 3.52 per cent in the year-ago period and the 2.76 per cent in the first quarter of the current fiscal.
Its overall capital adequacy stood at 14.28 per cent as of September 30.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226088236
- IFL Enterprises
- 1.30 (+ 4.84)
- 81180992
- Vodafone Idea L
- 16.81 (+ 0.78)
- 62313865
- NCL Research
- 0.95 ( -4.04)
- 31531338
- Franklin Industries
- 3.70 (+ 2.49)
- 20817588
MORE NEWS
![Bharat Agri Fert...](https://im.rediff.com/80-80/money/2022/sep/24housing-project-3.jpg)
Bharat Agri Fert & Realty Launches New...
Bharat Agri Fert & Realty launches a new housing project in MMR, targeting Rs 800...
![India-UAE Trade...](https://im.rediff.com/80-80/money/2020/nov/15gold1.jpg)
India-UAE Trade Pact: GTRI Raises Concerns Over...
GTRI expresses concerns about increased precious metal imports from UAE under the...
![India Budget...](https://im.rediff.com/80-80/money/2021/jan/07budget.jpg)
India Budget 2023: Fiscal Deficit Target to be...
ICRA expects India's fiscal deficit to be lowered to 4.9-5% of GDP in the upcoming...