Mumbai: Country's largest lender State Bank of India (SBI) on Friday reported a 62 percent growth in its net profit at Rs 15,477 crore during the quarter that ended on December 2022. On a standalone basis, the lender's net post-tax profit grew to Rs 14,205 crore during the October-December 2022 period, which was up from Rs 8,432 crore in the year-ago period and Rs 13,265 crore in the preceding July-September quarter.
"The public sector lender's total income grew to Rs 98,084 crore from Rs 78,351 crore in the year-ago period, while the operating expenses were up at Rs 24,317 crore from Rs 20,839 crore," said the filing.
The provisions for non-performing assets nearly halved to Rs 1,586 crore for the reporting quarter. The gross non-performing assets ratio reduced to 3.14 percent as against 3.52 percent three months ago and 4.50 percent in the year-ago period.
The SBI scrip gained 3.12 percent to close at Rs 544.45 a piece on the BSE, as against a 1.52 percent jump on the benchmark.
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