SBI’s Q1 profit rises over 55% to Rs 6,504 crore; shares rises over 4%

Shares of SBI were trading higher after the public lender posted results that exceeded the expectations of analysts. SBI's net profit in the first quarter of FY22 rose 55 per cent to Rs 6,504 crore.

India’s largest public lender State Bank of India (SBI) on Wednesday reported a 55 per cent rise in its net profit at Rs 6,504 crore on a year-on-year (YoY) basis. The net profit in the corresponding quarter last year was Rs 4,189 crore. The public lender’s net interest income (NII) also gained by nearly 4 per cent to Rs 27,638 crore in comparison to Rs 26,641 crore in the same period last year.