SBI logs its highest-ever quarterly profit at Rs 6,504 cr in Q1, up 55% YoY

Net interest income of the lender rose 3.74 per cent year-on-year to Rs 27,368 crore

State Bank of India (SBI) on Wednesday reported a 55-per cent year-on-year (YoY) rise in net profit to post its highest quarterly profit of Rs 6,504 crore during April-June (first quarter or Q1) of 2021-22 (FY22), compared to Rs 4,189.34 crore in the year-ago period.
 
The country’s largest lender beat Street estimates as a result of a rise in non-interest income and dip in provisions. 
 
Bloomberg analysts had estimated a net profit of Rs 5,855 crore in the reporting period.
 
Shares of the lender closed 2.37 per cent higher on the BSE at Rs 457.05 after the