Business
07 Aug, 2026
SBI Q1 profit up 14 pc to Rs 24,113 cr as provisions fall, core income rises
Business To Business Mumbai, 07 August, 2026: State Bank of India (SBI) on Friday reported a 13.73% year-on-year increase in consolidated net profit to Rs 24,113 crore for the April–June quarter (Q1 FY27), driven by higher core income and lower provisions.
Financial performance
- Consolidated net profit: Rs 24,113 crore, up 13.73% year-on-year.
- Standalone net profit: Rs 21,121.22 crore, a 10.23% increase from Rs 19,160.44 crore in the corresponding quarter of the previous year.
The bank attributed the improved performance to:
- Growth in core income.
- A decline in provisions, which supported profitability.
Growth outlook
C. S. Setty said the bank has
raised its credit growth outlook for the current financial year.
- Revised advances growth target: 14–15%
- Earlier guidance: 13–15%
The upward revision reflects SBI's expectation of stronger loan demand during the remainder of the fiscal year.