SBI Q2 profit rises 14.3% as operating profit falls

State Bank of India reported net profit of Rs 23,038 crore for the July-September quarter of FY27, up 14.3% from a year earlier, as net interest income rose and provisions declined. The bank’s operating profit, however, fell 1.4%, while asset-quality ratios improved. Net interest income, the difference between interest earned and interest paid, increased about 15% to Rs 49,143 crore, compared with Rs 42,847 crore in the corresponding quarter last year. SBI also reported provisions of Rs 4,217 crore, down from Rs 5,400 crore a year earlier. The reported Q2 FY26 net-profit comparison differs in the reports: one gives Rs 20,160 crore, while another gives Rs 20,259 crore. The 14.3% increase is reported alongside the Rs 20,160 crore figure. SBI’s stock-exchange filing is the reported basis for the quarterly results. Operating profit was Rs 26,937 crore, compared with Rs 27,311 crore in the year-earlier quarter. The bank also reported a one-time gain of Rs 7,288 crore. Other income declined 23.8% year on year to Rs 11,777 crore, with treasury losses linked in remarks by a senior finance official to higher bond yields and foreign-exchange movements. Asset quality improved. Gross...