SBI Q3 Results: Bank Reports 84% Rise In Net Profit To Rs 16,891; Check Detailed Numbers Here

SBI Q3 Results: On a sequential basis, SBI's Q3FY25 net interest income (NII) was 0.4 per cent lower than the Rs 41,620 crore reported in Q2FY25

Brokerages had projected SBI's Q3FY25 profit to rise between 65 per cent and 86 per cent year-on-year

Source : ABP Live

State Bank of India (SBI) reported an 84 per cent rise in net profit, reaching Rs 16,891 crore for the quarter ended December 31, 2024, surpassing estimates. This compares to a net profit of Rs 9,164 crore in the same quarter last year.

The bank's net interest income grew 4 per cent, reaching Rs 41,446 crore, up from Rs 39,816 crore a year earlier. Employee expenses declined by 17 per cent to Rs 16,074 crore. SBI’s domestic loan book saw a year-on-year growth of 14.06 per cent.

SBI's operating profit for Q3FY25 rose 15.8 per cent to Rs 23,550.81 crore, up from Rs 20,336.08 crore reported in the December quarter of FY24. However, on a sequential basis, it declined by 19.6 per cent from Rs 29,293.74 crore in Q2FY25, though they were lower than the previous quarter.

The bank's gross NPA ratio improved to 2.07 per cent as of December 31, 2024, compared to 2.13 per cent on September 30, 2024.

On a sequential basis, SBI's Q3FY25 net interest income (NII) was 0.4 per cent lower than the Rs 41,620 crore reported in Q2FY25.

Brokerages had projected SBI's Q3FY25 profit to rise between 65 per cent and 86 per cent year-on-year (YoY).

Operationally, SBI's NII for the quarter stood at Rs 41,446 crore, reflecting a 4 per cent YoY increase. In Q3FY24, SBI's NII was Rs 39,820 crore.

The bank's net interest margin (NIM) declined significantly to 3.01 per cent in Q3FY25, down from 3.14 per cent in the previous quarter.

In the December quarter, SBI reported gross non-performing assets (GNPAs) at Rs 84,360.38 crore, compared to Rs 86,748.81 crore in Q3FY24. Sequentially, GNPAs rose from Rs 83,369.23 crore in Q2FY25.

Similarly, net non-performing assets (NNPA) increased to Rs 21,377.64 crore in Q3FY25 from Rs 20,294.32 crore in the previous quarter. In Q3FY24, NNPAs stood at Rs 22,408.38 crore.

Regarding the NPA ratio, the GNPA ratio was 2.07 per cent at the end of Q3FY25, down from 2.14 per cent in the previous quarter. Meanwhile, the NNPA ratio remained unchanged at 0.53 per cent.

Additionally, SBI made provisions of Rs 911.06 crore during the quarter, higher than the Rs 687.8 crore set aside in Q3FY24. Compared to Q2FY25, provisions decreased from Rs 4,505.73 crore.

The credit cost for Q3FY25 rose slightly to 0.24 per cent from 0.21 per cent YoY.

The Slippage Ratio stood at 0.39 per cent in Q3FY25, compared to 0.58 per cent YoY and 0.51 per cent quarter-on-quarter.