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HomeMarketStocksSBI Q2 Results: PSU lender posts highest-ever quarterly profit of Rs 13,265...

SBI Q2 Results: PSU lender posts highest-ever quarterly profit of Rs 13,265 crore

NEW DELHI: (SBI) on Saturday reported its highest-ever quarterly revenue after tax (PAT) of Rs 13,264.62 crore, up 74% year-on-year (YoY), for the quarter ended September 30, 2022.

It had reported a internet of Rs 7,626.57 within the year-ago interval.

The nation’s largest state-run lender reported a complete revenue of Rs 88,733.86 crore in Q2FY23, up 14% YoY from Rs 77,689.09 crore within the corresponding quarter final 12 months.

The state-run lender reported a pre-provision working revenue (PPOP) at Rs 21,220 crore within the given quarter towards Rs 18,079 crore within the year-ago interval. Provisions declined to Rs 3,038 crore from Rs 4,392 crore on a quarter-on quarter (QoQ) foundation.

SBI reported a 13% improve within the internet curiosity revenue (NII) to Rs 35,183 crore for the quarter ended September 30, 2022, from Rs 31,184 crore within the year-ago quarter.

Home internet curiosity margins (NIMs) of the lender improved 5 foundation factors on a YoY foundation and 32 foundation factors on a QoQ foundation to three.55%, it added. Credit score price improved by 15 bps YoY to 0.28% for Q2FY23.

Gross NPAs eased to three.52% in Q2FY23 from 3.91% in Q1FY23 and 4.9% in Q2FY22. Equally, internet NPAs dropped to 0.8% in September 2022 quarter from 1% in June 2022 quarter and 1.52% in September 2021 quarter.

SBI’s return on belongings (ROA) stood at 1.04% for the quarter, up by 38 bps YoY, the lender mentioned. For the half 12 months ended September 2022, its ROA stood at 0.76%.

SBI reported a 37% rise in internet revenue to Rs 19,333 crore for H1FY23 from Rs 14,131 crore in the identical interval the earlier 12 months. Its NII elevated 13% to Rs 66,379 crore throughout the identical interval, with NIMs at 3.39%

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