SBI back in black; Q2 net profit at Rs 9.44 bn on higher interest income

SBI chairman Rajnish Kumar in a media conference call said bank is back in profit after three quarters

State Bank of India (SBI), the country's largest lender, made a profit in the second quarter ended September 2018 after reporting losses in the three previous quarters.

Its net profit in the second quarter stood at Rs 9.44 billion on higher net interest income and lower provisions for bad loans. When compared to the same quarter in FY18, however, net profit was down by 40.3 per cent. 

It had posted net profit of Rs 15.81 billion in Q2FY18. Tax expenses stood at Rs 8.67 billion in Q2FY19 as against tax credit of Rs 7.19 billion in Q2FY18.

It had reported