Business Today
Subscribe
NRICareer & JobsUS NewsIn PicsWeatherPetrol PricesDiesel PricesPMS TodayBT Reels
BT India at 100BT Infra SummitEY Business Today Hidden Gems 2026
Search
Advertisement
Business News
markets
company stock
SBI Q2 earnings: Profit climbs 28%, NII at Rs 41,620 crore 

SBI Q2 earnings: Profit climbs 28%, NII at Rs 41,620 crore 

SBI Q2 Results: Net interest income rose to Rs 41,620 crore in the last quarter against Rs 39,500 crore in the corresponding quarter of the previous fiscal. 

Join Our WhatsApp Channel
Aseem Thapliyal
Aseem Thapliyal
  • Updated Nov 8, 2024 4:58 PM IST
SBI Q2 earnings: Profit climbs 28%, NII at Rs 41,620 crore SBI stock was trading 3% lower at Rs 835 on BSE. Market cap of the lender stood at Rs 7.46 lakh crore.

Country's largest lender State Bank of India (SBI) reported a 28% growth in consolidated net profit for the September 2024 quarter. Net profit climbed to Rs 18,331 crore in the second quarter against Rs 14,330 crore in the corresponding quarter of last fiscal.

Net interest income rose to Rs 41,620 crore in the last quarter against Rs 39,500 crore in the corresponding quarter of the previous fiscal. Net interest margin came at 3.14% in Q2 compared to 3.29% in Q2 of last fiscal. Total deposits climbed 9.13% year-on-year to Rs 51,17,285 crore in the September 2024 quarter against Rs 4689 218 crore in Q2 of the previous fiscal.

Advertisement

The net NPA ratio fell to 0.53% in the last quarter compared to 0.64% in the September 2023 quarter. Gross NPA ratio in Q2 came at 2.13% against 2.55% on a year-on-year basis. .

Operating profit climbed 51% to Rs 29,294 crore in the last quarter from Rs 19,417 crore in Q2 of the previous fiscal.

SBI stock was trading 3% lower at Rs 835 on BSE. Market cap of the lender stood at Rs 7.46 lakh crore.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Follow us on

ABOUT THE AUTHOR

Aseem Thapliyal
Aseem Thapliyal

A journalist with over 12 years' experience, who tracks trends in the share market and writes stock market stories. An active follower of Sensex and Nifty, I capture stocks in news and analysis by share market experts and brokerages on their outlook and price targets. I cover company news/earnings leading to a rally or crash in particular stocks or stock market indices. Also track impact of global stock markets on their Indian peers. I have worked with Live Mint and NDTV Profit in previous stints. My hobbies are exploring new places, travelling, watching movies, spending time with friends and family, watching web series, playing cricket and football. I have completed graduation from Delhi University along with a PG Diploma in journalism from IIMC. I can be reached easily via social media platforms.

Published on: Nov 8, 2024 2:32 PM IST
    Follow Us onChannel

    TOP STORIES

    TOP VIDEOS

    market today

    LATEST

    Read more