SBIN · Financial Services
State Bank of India reported total income of ₹1.21 lakh cr for July to September 2024, +12.7% on the year and +2.4% on the quarter. It is the highest quarterly income in the last 6 quarters on record.
Net interest income, interest earned less interest paid, was ₹47,426 cr, +6.7% on the year and +1.9% on the quarter. For a lender this is the core earnings line: it shows whether the loan book and its pricing are growing faster than the cost of funds.
Net profit was ₹20,565 cr, +23.5% on the year and +2.3% on the quarter, with earnings per share of ₹22.17. The tax rate of 26% is in line with its recent average.
An NBFC's quarter turns on loan growth, its cost of borrowing and credit costs; profit can rise for a while simply because provisions fall. The quarterly statements do not carry AUM growth, stage 2 and 3 assets, credit cost and the cost of funds; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed, Asset quality (lenders), Net interest margin (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹1.07 lakh cr | ₹1.13 lakh cr | ₹1.17 lakh cr | ₹1.18 lakh cr | ₹1.21 lakh cr | ₹1.25 lakh cr | ₹1.27 lakh cr | ₹1.26 lakh cr | ₹1.28 lakh cr | ₹1.30 lakh cr | ₹1.31 lakh cr | ₹1.36 lakh cr |
| YoY | — | — | — | +17% | +13% | +10% | +8% | +6% | +6% | +5% | +3% | +8% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 26% | 25% | 26% | 26% | 25% | 26% | 26% | 25% | 27% | 23% | 25% |
| Net profit | ₹16,648 cr | ₹11,598 cr | ₹22,203 cr | ₹20,094 cr | ₹20,565 cr | ₹19,484 cr | ₹20,379 cr | ₹22,121 cr | ₹21,861 cr | ₹22,176 cr | ₹20,508 cr | ₹25,121 cr |
| YoY | — | — | — | +5% | +24% | +68% | −8% | +10% | +6% | +14% | +1% | +14% |
| EPS | ₹18.04 | ₹12.40 | ₹23.96 | ₹21.65 | ₹22.17 | ₹21.12 | ₹21.96 | ₹23.76 | ₹22.90 | ₹23.09 | ₹21.28 | ₹26.12 |
| Flags | · | · | · | · | · | 1 | · | · | · | · | · | · |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
State Bank of India reported total income of ₹1.21 lakh cr (+12.7% on the year) and net profit of ₹20,565 cr (+23.5% on the year) for July to September 2024.
None of the 3 checks that could run raised a question.
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.