SBI reports highest-ever quarterly net profit of Rs 6,504 crore in Q1

Post result announcement, the stock of the lender rallied nearly 4 per cent and hit fresh record high of Rs 463.2 apiece on the BSE. Moreover, it's m-cap surpassed Rs 4.13 trillion-mark

State Bank of India (SBI), on Wednesday, reported 55.24 per cent year-on-year increase in standalone net profit at Rs 6,504 crore for April-June quarter (Q1FY22), meeting Street expectations. The net profit in the year-ago period was Rs 4,189.4 crore.
 

Analysts, on average, projected profit after tax (PAT) to rise anywhere between 33-63 per cent, up to Rs 6,841 crore. READ ANALYSTS’ EXPECTATIONS HERE
 

Sequentially, the lender’s profit increased just 0.8 per cent from Rs 6,450.7 crore clocked in the March quarter of FY21. 
 

“The bank has registered its highest quarterly net profit of Rs 6,504 crore in Q1FY22,