State Bank of India (SBI) on Friday reported a 68.47 per cent year-on-year (YoY) jump in net profit at Rs 14,205.34 crore for the December quarter compared with Rs 8,431.88 crore in the same quarter last year.
Net interest income (NII) for the quarter rose 24.05 per cent YoY to Rs 38,069 crore from 30,687 crore in the year-ago quarter. Net interest margin for the quarter came in at 3.69 per cent, up 29 basis points. The PSU bank had reported NIM of 3.55 per cent in September and 3.4 per cent in the year-ago quarter.
Gross non-performing assets for the quarter fell to 3.14 per cent of total advances from 3.52 per cent in September quarter and 4.50 per cent in the same quarter last year.
Net non-performing assets for the quarter fell to 0.77 per cent of total advances from 0.80 per cent in September quarter and 1.34 per cent in the same quarter last year.
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