SBI Q1 profit up 14 pc to Rs 24,113 cr as provisions fall, core income rises
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.

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