SBI second-quarter net profit rises 14% to ₹23,038 crore on stake-sale gains
SBI reported a 14% rise in second-quarter net profit to ₹23,038 crore. Net interest income grew 15% year-on-year to ₹49,143 crore, and exceptional gains from stake sales boosted earnings.
- 01SBI second-quarter net profit rose 14% to ₹23,038 crore
- 02Net interest income grew 15% year-on-year to ₹49,143 crore
- 03Exceptional gains from stake sales boosted quarterly earnings
SBI reported a 14% rise in second-quarter net profit to ₹23,038 crore. Net interest income grew 15% year-on-year to ₹49,143 crore.
What happened
Quarterly net profit reached ₹23,038 crore, up 14%. Exceptional gains from stake sales boosted the quarterly earnings. Net interest income, the difference between what the bank earns on loans and pays on deposits, rose 15% year-on-year over the same period.
Why it matters
The result combines two drivers: growth in net interest income and exceptional gains from stake sales. The first comes from the bank's core lending business. The second comes from the sale of holdings. The 14% rise in net profit reflects both drivers together, so readers should consider them separately.
What to watch next
The available information gives no outlook from SBI. Further company disclosures would show how these drivers develop in later quarters.
Sources:Hindu BusinessLine (thehindubusinessline.com)
UCapital24 S.p.A. or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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