SBI Q1 Results: Standalone PAT jumps 12% YoY to Rs 19,160 crore, beats Street estimates

State Bank of India (SBI) on Friday reported a 12% year-on-year (YoY) rise in its standalone net profit for the June quarter at Rs 19,160 crore, compared to Rs 17,035 crore in the same period last year.

The profit exceeded Street estimates, which had pegged it at Rs 17,095 crore.

The public lender earned an interest income of Rs 1,17,996 crore in the quarter under review, up 6% from Rs 1,11,526 crore in the year-ago period.


SBI paid Rs 76,923 crore as interest, up 9% from Rs 70,401 crore in the year-ago period.

The earnings were announced during market hours, and SBI shares recovered from the day’s low of Rs 793 on NSE, though they were still trading over 1% lower around 1:30 pm amid weak market sentiment.

The net profit growth was driven by efficiency in operating income and contained operating expenses, the company filing to the exchanges said.

The largest Indian PSU bank reported net interest income (NII) at Rs 41,072 crore, which was 0.13% down from Rs 41,125 crore reported in the year-ago period.

Meanwhile, the net interest margin (NIM) fell 32 bps to 2.90% from 3.22% in Q1FY25.

Operating profit

SBI's operating profit rose 15% from Rs 26,449 crore in Q1FY25 to Rs 30,544 crore in Q1FY26.

Loans & deposits

Gross advances stood at Rs 42.54 lakh crore in Q1FY26, up 12% from Rs 38.12 lakh crore. The retail personal loan portfolio jumped 13% to Rs 15.39 lakh crore. The agriculture segment also rose 13% to Rs 3.5 lakh crore, while the SME and corporate segments recorded growth of 19% and 5.7% YoY, respectively.

SBI's total deposits grew 12%, from Rs 49.01 lakh crore in Q1FY25 to Rs 54.73 lakh crore.

Asset quality

The Provisioning Coverage Ratio (PCR) was reported at 74.49%. Net NPA stood at Rs 19,908 crore, and additional provisions of Rs 30,345 crore, not included in the PCR, were made by the public lender during the quarter under review.

Gross NPA was 38 bps lower at 1.83% in Q1FY26, compared to 2.21% in Q1FY25. Net NPA declined 10 bps to 0.47%, down from 0.57% in the year-ago period.

Slippage ratio declined by 9 bps to 0.75% versus 0.84% in the year ago period.

Credit cost

Credit cost saw a marginal 1 bps YoY dip to 47% versus 0.48% in Q1FY25.