SBI Q2 result: Profit jumps 52% YoY to Rs 4,574 cr; asset quality improves

SBI's gross non-performing assets (GNPA) declined to Rs 1.25 trillion during September quarter

State Bank of India's (SBI's) September quarter (Q2FY21) standalone net profit jumped 52 per cent year-on-year to Rs 4,574.16 crore as the lender's provisions declined during the quarter. In comparison, it had clocked a net profit of Rs 3,011.7 crore during the corresponding quarter of FY20.
 

On a quarterly basis, the profit rose 9 per cent from Rs 4,189.3 crore-profit reported in Q1FY21.
 

Given the uncertainty amid the Covid-19 pandemic, analysts had varying estimates for the bank’s profit. Edelweiss Securities, for instance, had pegged the profit at Rs 2,117.2 crore, while those at ICICI Securities saw the PAT at Rs