State Bank of India (SBI), the country's largest state-owned bank, reported a net profit of Rs 18,331 crore in the second quarter of the financial year 2024-25. A year-on-year growth of 28%. A year ago, i.e. in the second quarter of the financial year 2023-24, the company made a profit of Rs 14,330 crore.
The total income of the bank increased by 15.13% In the July-September quarter, the bank's total income rose 15.13% year-on-year to Rs. 1,29,141 crore, which in the same quarter last year was Rs. 1,12,169 crores. It has increased by 5.26% compared to the previous quarter. The income of the bank in April-June was Rs. 1,22,687 crores.
Net interest income fell by 5% In the July-September quarter, SBI's net interest income (NII) declined 5% year-on-year (YoY) to Rs. 39,500 crores. In the same quarter last year it was Rs. 41,620 crores. It also declined by 4% compared to the April-June quarter. In Q1 it was Rs. 41,125 crores.
What is single and integrated?
Companies' results come in two parts – standalone and consolidated. Standalone shows the financial performance of only one unit. Whereas, in a consolidated financial report, the entire company is reported.
SBI stock returned 45% in one year
After the results, shares of State Bank of India fell over 2%. At 2:35 pm it is trading at 840 level with a decline of 2.47%. Shares of the company have returned 7.87% in last one month, 3.97% in 6 months and 45.26% in one year. SBI shares have gained 31.43% since January 1 this year. The market cap of the bank is Rs 7.51 lakh crore.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
