SBI Q1 Results: Net profit jumps 10.2% YoY to ₹21,121 crore, NII up 15%

SBI Q1 Results: State Bank of India (SBI) on Friday, 7 August, reported a 10.23% year-on-year (YoY) rise in its standalone net profit for the June quarter (Q1FY27) to ₹21,121.22 crore, compared with ₹19,160.44 crore in the same period last year.

The public lender earned an interest income of ₹46,992 crore in the quarter under review, up 14.88% from ₹40,907 crore in the year-ago period.

SBI reported a sequential improvement in asset quality during the June quarter, with the gross non-performing asset (GNPA) ratio declining to 1.47% from 1.49% in the previous quarter. The net NPA ratio also improved marginally to 0.38%, compared with 0.39% in the March quarter.

The bank's provisions increased to ₹5,047 crore in Q1 FY27 from ₹2,872 crore in the preceding quarter and ₹4,759 crore in the corresponding quarter last year. Despite higher provisioning, the credit cost remained stable sequentially at 0.27% and improved from 0.47% a year ago.

SBI's domestic net interest margin (NIM) stood at 3%, while the whole-bank NIM expanded by 5 basis points quarter-on-quarter to 2.86%.

On the business front, gross advances grew 18.6% year-on-year and 2.3% quarter-on-quarter. However, fresh slippages rose to ₹7,359 crore during the quarter from ₹5,548 crore in the previous quarter, pushing the slippage ratio up to 0.57% from 0.47% sequentially.

Business growth remains strong

SBI's total business crossed the ₹110 lakh crore milestone during the June quarter, driven by healthy growth in both deposits and advances. Total deposits rose 9.73% year-on-year to ₹60.06 lakh crore, while advances crossed ₹50 lakh crore. CASA deposits increased 9.3% to ₹22.61 lakh crore, with the CASA ratio standing at 39.24% as of 30 June.

Within the loan portfolio, domestic advances grew 18.15% year-on-year. Retail personal loans expanded 15.15%, corporate advances rose 18.05%, while SME and agriculture loans posted robust growth of 22.33% and 25.43%, respectively. Foreign office advances also increased 21.38% in rupee terms.

Profitability and capital position

For the quarter, SBI reported a return on assets (ROA) of 1.11% and a return on equity (ROE) of 17.87%.

The bank also strengthened its capital position, with the capital-to-risk weighted assets ratio (CRAR) improving to 15.67% from 14.63% a year ago. The Common Equity Tier-1 (CET-1) ratio rose to 12.89% from 11.10%, while the Tier-1 capital ratio increased to 13.90% from 12.45%.

SBI's provision coverage ratio (PCR), excluding advances under collection accounts (AUCA), stood at 74.20%, while the PCR including AUCA was 91.82%.

Digital banking gains momentum

Digital adoption continued to accelerate during the quarter, with more than 64% of new savings bank accounts opened through SBI's YONO platform. The share of transactions conducted through alternate digital channels increased to around 98.8%, up from 98.6% in the corresponding quarter last year, underscoring the bank's continued focus on digital banking.

SBI share price today

SBI share price today opened at ₹1,081.95 apiece on the BSE, the stock touched an intraday high of ₹1,124.40 per share, and an intraday low of ₹1,075.30 per share.

According to Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, SBI's technical structure remains largely range-bound, indicating continued uncertainty in the stock's near-term direction. He noted that a bearish 100% pole in the ₹1,200–1,220 zone points to strong overhead supply, while a bullish 100% pole in the ₹940–950 range highlights robust buying interest at lower levels. As a result, the stock continues to trade within this broad range.

Rathi said the ₹1,115–1,135 zone is the immediate resistance area to watch. A decisive breakout above this range would mark an exit from the ongoing consolidation and confirm a breakout above the 45-degree objective trendline, signalling the potential start of a sustained uptrend. Until such a move occurs, he expects SBI to remain in a sideways trading phase, with the resistance zone holding the key to its next directional move.

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