SBI Q4 profit jumps 80% to Rs 6,451 crore as bad loans situation improves

SBI on Friday reported an 80 per cent surge in standalone net profit to Rs 6.450.75 crore for the fourth quarter ended March 2021, aided by bad loans.

The country''s largest lender, SBI, on Friday reported an 80 per cent surge in standalone net profit at Rs 6.450.75 crore for the fourth quarter ended March 2021, aided by bad loans.State Bank of India (SBI) had registered a profit of Rs 3,580.81 crore during the January-March period of 2019-20, the lender said in a regulatory filing. Total income of the bank during the March quarter of the last financial year rose to Rs 81,326.96 crore, from Rs 76,027.51 crore in the same period of 2019-20. On a consolidated basis, the bank reported a 60 per cent increase in net profit at Rs 7,270.25 crore compared to Rs 4,557.49 crore in the fourth quarter of the previous fiscal.