SBI's Q3 results: Net profit surges whopping 84% to ₹16,891cr
What's the story
State Bank of India (SBI) has posted a stellar 84% year-on-year (YoY) growth in its standalone net profit for the third quarter of FY25. The public sector lender's net profit jumped to ₹16,891 crore from ₹9,163 crore a year ago. This strong performance surpassed market expectations which had projected a net profit of ₹16,219 crore for the quarter.
Income hike
Net interest income and interest earnings see growth
SBI's net interest income (NII) for Q3 FY25 also witnessed a remarkable 4.09% YoY growth, amounting to ₹41,620 crore against ₹39,816 crore in the year-ago period. Meanwhile, the bank's interest income for the quarter was ₹1,17,427 crore. This marks a whopping 10% growth compared to ₹1,06,734 crore in the same quarter of the last financial year.
Profit dip
Sequential decline in SBI's PAT
Despite the YoY growth, SBI's profit after tax (PAT) saw an 8% sequential decline from ₹18,331 crore reported in Q2 FY25. The bank also revealed that it paid ₹75,981 crore as interest this quarter. This payment marks a massive increase of over 13% against the ₹66,918.05 crore reported in the July-September quarter.