SBI results: Bank's September-quarter earnings a Diwali gift for investors

The bank maintained its slippages ratio target for FY20 at 2%

The September quarter (Q2) results of the State Bank of India (SBI) came as an exception to the gloom in the economy. Net interest income grew by 17.7 per cent year-on-year (YoY), which is strong considering its scale, and was also better than what its private peers have posted so far. 

Helped by the stake sale in the SBI Life Insurance Company, which bumped up income by Rs 3,500 crore, the profit before tax grew by 179 per cent YoY and exceeded Street expectations. What seems to have pleased investors the most, and helped the stock gain over seven per cent