SBI Q2 Results: Net Profit Jumps 23% To Rs 19,782 Cr - Check Key Numbers Here

SBI Q2 Results: On Friday, SBI reported a 23 per cent year-on-year increase in consolidated net profit, reaching Rs 19,782 crore for the quarter ending 30 September 2024, compared to Rs 16,099 crore in the same period last year. 

On a standalone basis, India's largest lender recorded a net profit of Rs 18,331 crore, up from Rs 14,330 crore in the prior year and Rs 17,035 crore in the previous quarter. 

The bank’s total income, following a leadership transition with C S Setty appointed as chairman in August, rose to Rs 1.29 lakh crore from Rs 1.12 lakh crore a year ago. Total expenditure increased to Rs 99,847 crore for the quarter under review, from Rs 92,752 crore in the corresponding period last year. 

Bad loans doubled to RS 3,631 crore 

Provisions for bad loans almost doubled to Rs 3,631 crore, compared to Rs 1,814 crore a year earlier. The gross non-performing assets (NPA) ratio stood at 2.13 per cent as of 30 September, slightly down from 2.21 per cent in June. 

At 1412 hrs on the BSE, the SBI stock was trading 1.60 per cent lower at Rs 845.50 per share, while the benchmark index saw a 0.14 per cent decline.

(With PTI inputs)