SBI Reported Rs. 50,000 Crore In Net Profit!

19 May 2023
2 mins read
Company excels with impressive 89% jump in net profit for Q4FY23, showcasing remarkable performance.
SBI Reported Rs. 50,000 Crore In Net Profit!

As the season of financial results is on, State Bank of India has reported results for Q4FY23 and year ended on March 31, 2023.         

In comparison to the same quarter last year, the company’s net profit for the fourth quarter that ended on March 31, 2023, increased by 89.48% to Rs 18,093.84 crore from Rs 9,549.13 crore on a consolidated basis. In Q4FY23, the company’s total revenue climbed by 26.67% to Rs 1,36,852.39 crore from Rs 1,08,034.68 crore in the similar quarter the year prior.   The company reported 57.31% increase in net profit for the year ended March 31, 2023, from Rs 35,373.66 crore to Rs 55,648.17 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company’s total revenue climbed by 16.32%, reaching Rs 4,73,378.14 crore as compared to Rs 4,06,973.09 crore for year ended March 31, 2022.    

Company credit growth is at 15.99% YoY with Domestic Advances growing by 15.38% YoY. Company xpress credit loans crossed ₹ 3 lakh crores. Gross NPA ratio is at 2.78%, down by 119 bps YoY whereas Net NPA ratio at 0.67% down by 35 bps YoY.       

In yesterday’s trading session script was closed at Rs 574.15. Today it opened at Rs 579.10 and touched a high of Rs 586.05 and low of Rs 569.75. Scrip closed around Rs 575.95, up by 0.31%, So far total 7,73,069 shares were traded over the counter at BSE.    

State Bank of India is an Indian multinational, public sector banking and financial services statutory body. For SBI, the interests of the common man have always remained at the core of its business. The Bank has a strong portfolio of distinctive products & services and leverages technology to deliver and manage them in a personalized and customer centric way. SBI provides a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers through its various branches and outlets, joint ventures, subsidiaries, and associate companies.