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On Saturday, the State Bank of India (SBI) announced its financial results for the quarter ended June 30, 2024. The bank reported a net profit of Rs 17,035 crore.In its Q1FY25 financial results, the State Bank of India (SBI) reported a net interest income (NII) of Rs 41,125 crore, marking a 5.71% increase from Rs 38,905 crore in Q1FY24. However, net interest margins (NIMs) for the bank’s overall operations declined to 3.22%, down by 11 basis points from 3.33% in the previous year.

The net non-performing assets (NNPA) ratio remained stable at 0.57% quarter-on-quarter basis.For domestic operations, NIMs fell by 12 basis points to 3.35% compared to 3.47% in Q1FY24. Operating profit rose by 4.55% year-on-year to Rs 26,449 crore. Interest earned surged by 16% to Rs 1,11,526 crore, up from Rs 95,975 crore in the same quarter last year.On Friday, the shares of SBI closed at Rs 847.75, 1.73 per cent down from the previous trading session day. The 52 week high and low of the share is Rs 912 and Rs 543.20 respectively.According to the BSE analytics, the shares have given returns of 41.66 per cent in the last 1 year.(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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