SBI Q4 profit declines 10% to ₹18,643 crore
The country's biggest lender had earned a profit of ₹20,698 crore in the January-March period of 2023-24.
Total income increased to ₹1,43,876 crore in the March quarter from ₹1,28,412 crore in the same period a year ago, SBI said in a regulatory filing.
During the quarter, the bank earned an interest income of ₹1,19,666 crore as against ₹1,11,043 crore a year ago.
Also Read | SBI Q3 results: Net profit surges 84% to ₹16,891 crore
The bank saw an improvement in asset quality, with gross non-performing assets (NPAs) declining to 1.82% of the total advances in the fourth quarter from 2.24% as at March-end 2024. Similarly, net NPAs eased to 0.47% as against 0.57%.
On a consolidated basis, SBI's net profit in the quarter fell 8 per cent to ₹19,600 crore as against ₹21,384 crore in the same period a year ago. Total income, however, increased to ₹1,79,562 crore from ₹1,64,914 crore.
For the entire financial year 2024-25, the bank reported a 16% increase in profit on a standalone basis at ₹70,901 crore as against ₹61,077 crore in the previous year.
The bank's board has declared a dividend of ₹15.90 per equity share for FY25. Besides, the board has approved raising equity capital of up to ₹25,000 crore (including share premium) in one or more tranches during 2025-26 through Qualified Institutional Placement (QIP)/ Follow on Public Offer (FPO) or any other mode.
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