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SBI Q2 Results Highlights: Net profit increases nearly 28% to ₹18,331.4 crore, revenue up 2.1%
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5 min read | Updated on November 08, 2024, 15:36 IST
SUMMARY
SBI Q2 Results Highlights: The State Bank of India reported a 27.9% increase in its standalone net profit to ₹18,331.4 crore in the latest July-September quarter, compared to ₹14,330 crore in the year-ago period. Sequentially, the post-tax profit increased 7.6%.
Stock list
SBI's gross NPA ratio at 2.13% improved by 42 bps YoY.
- Current price: ₹843.50 (- 1.87%)
- Previous close: ₹859.60
- Open: ₹859.60
- High: ₹863.50
- Low: ₹834.20
- Traded volume: 210.75 lakh
- Traded value: ₹1,788.39 crore
- Total market capitalisation: ₹7,56,852.4 crore
- Free float market capitalisation: ₹3,24,648.6 crore
- 61% of savings bank accounts are acquired digitally through YONO.
- Share of Alternate Channels in total transactions increased from ~97.7% in H1 FY24 to ~98.2% in H1FY25.
- Credit growth at 14.93% YoY with Domestic Advances growing by 15.55% YoY.
- Foreign Offices’ Advances grew by 11.56% YoY.
- Domestic Advances growth is driven by Corporate Advances (18.35% YoY) followed by Agri Advances which grew by 17.67% YoY.
- SME and Retail Personal Advances loans registered YoY growth of 17.36% and 12.32% respectively.
- Whole Bank Deposits grew at 9.13% YoY, out of which CASA Deposit grew by 4.24% YoY. CASA ratio stands at 40.03% as on 30th September 24.
- Gross NPA ratio at 2.13% improved by 42 bps YoY.
- Net NPA ratio at 0.53% improved by 11 bps YoY.
- PCR (incl. AUCA) improved by 28 bps YoY and stands at 92.21%. Provision Coverage
- Ratio (PCR) at 75.66% improved by 21 bps YoY.
- Slippage Ratio for H1FY25 improved by 2 bps YoY and stands at 0.68%. Slippage
- Ratio for Q2FY25 increased by 5 bps YoY and stands at 0.51%
- Credit Cost for Q2FY25 stands at 0.38%.
- Current price: ₹851.80 (- 0.91%)
- Previous close: ₹859.60
- Open: ₹859.60
- High: ₹863.50
- Low: ₹845.20
| Sl.No | Name | Designation |
|---|---|---|
| 1 | Challa Sreenivasulu Setty | Chairman |
| 2 | Ashwini Kumar Tewari | Managing Director |
| 3 | Vinay M Tonse | Managing Director |
| 4 | Rana Ashutosh Kumar Singh | Managing Director |
| 5 | CA Ketan S Vikamsey | Director |
| 6 | Mrugank M Paranjape | Director |
| 7 | Rajesh Kumar Dubey | Director |
| 8 | CA Dharmendra Singh Shekhawat | Director |
| 9 | CA Prafulla P Chhajed | Director |
| 10 | Swati Gupta | Director |
| 11 | Nagaraju Maddirala | Director |
| 12 | Ajay Kumar | Director |
According to analysts, the state-run bank is likely to see double-digit growth in net profit and net interest income (NII) in the latest July-September quarter, led by healthy loan and deposit growth.
The net profit could grow between 5% and 30% in the range of ₹15,022 crore and ₹18,711 crore compared to the year-ago period. The NII could see a 5% to 35% growth in the range of ₹41,362 crore to ₹53,597 crore.
In the first quarter of FY25, SBI reported a nearly flat standalone net profit of ₹17,035 crore against ₹16,884 crore post-ax profit in Q1 FY24.
SBI share price
Ahead of the results, shares of State Bank of India are trading 0.8% lower at ₹852.25 per share on the National Stock Exchange.
The market capitalisation stands at ₹7,60,823.86 crore.
On the BSE, the stock is down 0.9% to ₹851.40 apiece.
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