SBI logs over 200% YoY jump in PAT at Rs 3,012 cr; asset quality improves

The gross non-performing assets came in at Rs 1.61 lakh crore, down nearly 5 per cent QoQ, from Rs 1.68 lakh crore reported in Q1FY20

Public lender State Bank of India (SBI) on Friday reported a standalone net profit of Rs 3,012 crore for the September quarter of FY20 (Q2FY20), up 218 per cent YoY, from a profit of Rs 944.87 crore reported in Q2FY19. The bank logged a consolidated PAT at Rs 3,375.4 crore .
 

The profit beat Street estimates. Prabhudas Lilladher, for instance, pegged the profit at Rs 2,633.3 crore. The bank's Q2 net profit was aided by one-off gains worth Rs 3,485 crore from stake sale in SBI Life Insurance. 
 

The bank reported a net interest income (NII) of Rs 24,600 crore, up