SBI Q2 Results: Net profit rises 28% YoY to ₹18,331.4 crore, NII up 5.37%; 6 key highlights
Live MintSBI Q2 Results: Public sector lender State Bank of India on Friday reported a standalone net profit of ₹18,331.44 crore for the quarter ended September 30, 2024, which was up by 27.92% over ₹14,330.02 crore reported by the company in the year-ago period. Net interest income for the quarter ended September, increased by 5.37% year-over-year to reach ₹41,620 crore, up from ₹39,500 crore during the corresponding period last year. Advances and Deposits The gross advances in the second quarter increased by 15% year-on-year to reach ₹39.2 lakh crore, whereas the growth in deposits was significantly lower at 9% year-on-year, amounting to ₹51.17 lakh crore. In absolute terms, Gross NPA was recorded at ₹83,369 crore, down from ₹84,226 crore in June, while Net NPA decreased to ₹20,294 crore from ₹21,555 crore during the June quarter.