Shares of State Bank of India went lower by over 2 per cent on Monday after the firm reported an 8.34 per cent decline in its consolidated net profit for the January-March quarter.
The company’s stock dipped 2 per cent to ₹783.65 on the BSE.
At the NSE, it went lower by 2.25 per cent to ₹782 apiece.
State Bank of India on Saturday reported an 8.34 per cent decline in its consolidated net profit to ₹19,600 crore for the January-March quarter compared to ₹21,384 crore a year ago, impacted by a decline in net interest margins.
On a standalone basis, the net profit of the lender declined to ₹18,642 crore in the March quarter, from ₹20,698 crore in the year-ago period.
The core net interest income of the bank increased 2.69 per cent to ₹42,775 crore, despite a loan growth of over 12 per cent due to a lower net interest margin. NIM declined by 32 basis points year-on-year to 3.15 per cent.
Total income on consolidated basis, however, increased to ₹1,79,562 crore in the last quarter of FY 2024-25 (FY25) from ₹1,64,914 crore in the year-ago period.
Published on May 5, 2025
