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Top headlines: SBI Q3 profit slips 7%, US comments on farm laws, protests

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SBI, State Bank of India
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SBI's profit before tax (PBT) came in at Rs 6,990.77 crore the quarter, down 36.2 per cent YoY from Rs 10,969.66 crore reported in the corresponding quarter of the previous fiscal.

BS Web Team New Delhi
SBI Q3 result: Net profit slips 7% YoY to Rs 5,169 cr on higher provisions

India’s biggest public sector bank (PSB) State Bank of India (SBI) on Thursday reported a 6.9 per cent year-on-year (YoY) drop in standalone net profit at Rs 5,196.22 crore for quarter ending December, 2020 (Q3FY21). The fall was largely driven by marginal increase in provisions against bad loans. In the year-ago period, the lender had clocked a net profit of Rs 5,583.4 crore. On a quarterly basis, the PAT grew 13.6 per cent from Rs 4,574.2 crore reported in the September quarter of FY21 (Q2FY21).

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