Mumbai, Nov 2026 : State Bank of India (SBI) on Tuesday reported a 14.3 per cent year-on-year increase in net profit to ₹23,038 crore for the September quarter of FY27, supported by strong growth in net interest income and lower provisions.
The country’s largest public sector lender had posted a net profit of ₹20,160 crore in the corresponding quarter of the previous financial year, according to its stock exchange filing.
SBI’s earnings were supported by robust growth in core income and a significant decline in provisions during the July-September quarter.
Net interest income (NII), which represents the difference between interest earned and interest paid, rose 15 per cent year-on-year to ₹49,143 crore, compared with ₹42,847 crore in the year-ago period.
However, the bank’s operating profit declined 1.4 per cent to ₹26,937 crore from ₹27,311 crore in the corresponding quarter last year.
The lender also reported a one-time gain of ₹7,288 crore during the quarter, providing an additional boost to its earnings.
Provisions fell to ₹4,217 crore in the September quarter from ₹5,400 crore a year earlier. They were also lower than the ₹5,047 crore reported in the preceding June quarter, reflecting a sequential decline.
SBI’s asset quality showed further improvement during the quarter. The gross non-performing asset (GNPA) ratio declined to 1.39 per cent from 1.47 per cent in the June quarter.
The net non-performing asset (NNPA) ratio also eased to 0.36 per cent from 0.38 per cent quarter-on-quarter.
The bank reported a slippage ratio of 0.50 per cent, while its domestic net interest margin (NIM) stood at 3.11 per cent during the quarter under review.
Despite the strong quarterly earnings, SBI shares traded 0.73 per cent lower at ₹979.75 following the announcement. In comparison, the benchmark Sensex was up 1.25 per cent at around 76,641.
The results highlight growth in SBI’s core interest income and continued improvement in asset quality, even as operating profit recorded a marginal decline.
