SBI Q1 Results: Profit beats estimates, rises 12% to Rs 19,160 crore

SBI Q1 Results: State Bank of India reported a solid start to the year with its first-quarter profit hitting Rs 19,160 crore, a 12 per cent jump from Rs 17,095 crore during the same period last year.

The bank’s core income from interest, called net interest income or NII, slipped slightly to Rs 41,072 crore compared to Rs 41,460 crore a year earlier.

Good news on the asset front: bad loans stayed steady. Gross NPAs were almost flat at 1.83 per cent, barely changing from 1.82 per cent a year ago. 

SBI stock performance

Looking at the stock, SBI’s shares have taken a bit of a hit lately, down about 1.2 per cent over the last year. But over a longer stretch, the returns have been impressive — up more than 50 per cent in three years, nearly 319 per cent in five years, and almost 184 per cent over the past decade.

SBI shares were down by 1.56 per cent as of 13:29 PM on Friday.