An ET Now survey had projected the profit figure at Rs 4,400 crore.
Its total revenue amounted to Rs 75,341.80 crore, 3.42 per cent more than the Rs 72,850.78 crore a year ago. The bank’s net interest income (NII) for the quarter increased 14.56 percent to Rs 28,181 crore, while net interest margins (NIM) reached 3.34 percent, compared with 3, 22 percent from a year ago.
It earned interest in the amount of Rs 66,814.11 crore compared to Rs 64,312.39 crore a year ago.
The bank’s gross NPA was 5.28 percent versus 5.44 percent in the previous quarter and 7.19 percent in the same quarter a year ago.
Net NPA for the quarter stood at 1.59 percent versus 1.86 percent in the June quarter and 2.79 percent a year ago.
The lender’s capital adequacy ratio stood at 14.72 percent at the end of September, compared with 13.40 percent at the end of June and 13.59 percent in the corresponding quarter last year.
The bank said it made a provision of Rs 2,124 million for employee salary review during the quarter and an additional provision of Rs 239 million on Covid-related accounts.
The bank’s credit growth stood at 6.02% year-on-year, mainly driven by retail advances (personal) (14.55% year-on-year), agricultural advances (4.19% year-on-year) and corporate advances (2.82% year-on-year).
SBI’s share lost ground after the earnings announcement and fell 0.71 percent to 203.30 rupees, while the benchmark Sensex index rose 0.40 percent to 40,420.
.
