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SBI reports over 2-fold jump in Q1 consolidated net profit

04 Aug 2023 Evaluate

State Bank of India (SBI) has reported results for first quarter ended June 30, 2023 (Q1FY24). 

The Bank has reported over 2-fold jump in its net profit at Rs 16884.29 crore for the quarter under review as compared to Rs 6068.08 crore for the same quarter in the previous year. Total income of the bank increased by 44.07% at Rs 108038.83 crore for Q1FY24 as compared Rs 74988.57 crore for the corresponding quarter previous year.

On consolidated basis, the bank has reported over 2-fold jump in its net profit at Rs 18735.95 crore for the quarter ended June 30, 2023 as compared to Rs 7528.25 crore for the same quarter in the previous year. Total income of the bank increased by 40% at Rs 132332.78 crore for Q1FY24 as compared Rs 94524.30 crore for the corresponding quarter previous year.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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