SBI Q3 results: PAT down 35% at Rs 9,164 crore on one time exceptional item

Leading public sector lender State Bank of India (SBI) reported a standalone net profit of Rs 9,164 crore which was down by over 35% from 14,205.34 crore reported by the state lender in the year ago period.

The bank earned Rs 105,733.78 crore in interest income in the reported quarter which was up 22% from Rs 86,616.04 crore reported by SBI in the year ago period.

The bank paid Rs 66,918 crore in interests taking the net interest income (NII) for the reporting quarter at Rs 38,816 crore.

The NII was up nearly 2% on a YoY basis versus Rs 38,068.62 crore in Q3FY23 where the bank had paid Rs 48,547.42 crore as interests.

The standalone net profit for 9MFY24 was reported at Rs 40,378 crores which improved by 20.40% over 9MFY23 reported at Rs 33,538 crores, the company said in its filing to the exchanges.

Net Profit of Rs 9,164 crores for Q3FY24 was reported after accounting for one-time exceptional item of 7,100 crores, the company filing said.More to come….

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