Live
- Rising Rajasthan Pre-Summit: MoUs worth Rs 63,463 crore signed in mining, petroleum sector
- Swiggy's IPO subscribed 3.59 times on last day
- Hold gram panchayats in villages to make decision public, Kejriwal tells sarpanches in Punjab
- Calcutta High Court stays suspension of 7 medical students on ragging charges
- Reliance Power’s stock hits 5 pc lower circuit after SECI ban
- Shaina NC slams MVA for caste-based, appeasement politics
- CBI arrests Delhi govt official for taking bribe from shopkeeper
- Unilateral appointment of arbitrators in public-private contract violates Article 14: Supreme Court
- Akhil Sachdeva set to give a fresh twist to the magic of Atif Aslam's Tere Bin
- Vanchana: A Tale of Justice, Secrets, and Betrayal
SBI Q4 net zooms 83% to Rs 16,694 cr
India’s largest lender posts 59% growth in profit at `50,232 cr for FY23
New Delhi: India’s largest bank SBI on Thursday reported an 83 per cent jump in net profit at Rs 16,694.51 crore for the fourth quarter of 2022-23 fiscal on higher interest income and low provisioning.
In the January-March quarter of 2021-22 financial year, State Bank of India's net profit on standalone basis was Rs 9,113.53 crore. During the March quarter of 2022-23 fiscal, the bank's interest income rose 31 per cent to Rs 92,951 crore, SBI said in a regulatory filing. Provisioning for bad loans and contingencies nearly halved to Rs 3,315.71 crore during the quarter, as against Rs 7,237.45 crore in the January-March period of 2021-22. For the full 2022-23 fiscal, SBI's net profit increased 59 per cent to Rs 50,232.45 crore. The profit in 2021-22 fiscal was Rs 31,675.98 crore.
