SBI Q3 profit jumps 62% to Rs 15,477 crore

Mumbai, February 3

Country’s largest lender State Bank of India on Friday reported a 62% growth in its net profit at Rs 15,477 crore during the quarter ended December 2022.

On a standalone basis, the lender’s net post-tax profit grew to Rs 14,205 crore during the October-December 2022 period, which was up from Rs 8,432 crore in the year-ago period and Rs 13,265 crore in the preceding July-September quarter.

The public sector lender’s total income grew to Rs 98,084 crore from Rs 78,351 crore in the year-ago period, while the operating expenses were up at Rs 24,317 crore from Rs 20,839 crore, as per an exchange filing.

The provisions for non-performing assets nearly halved to Rs 1,586 crore for the reporting quarter.

The gross non-performing assets ratio reduced to 3.14% as against 3.52% three months ago and 4.50% in the year-ago period.

The SBI scrip gained 3.12% to close at Rs 544.45 a piece on the BSE, as against a 1.52% jump on the benchmark.

IndiGo profit up at Rs 1,422 cr

InterGlobe Aviation, the parent of the country’s largest airline IndiGo, on Friday reported a steep rise in profit at Rs 1,422.6 crore in the three months ended December 2022, primarily fuelled by robust demand for air travel. The company had a profit after tax of Rs 129.8 crore in the same period a year ago.

IndiGo’s total income jumped to Rs 15,410.2 crore in the third quarter of the current fiscal, from Rs 9,480.1 crore in the year-ago period.

ITC Q3 net profit rises 23%

ITC Ltd on Friday reported a 23.09% increase in consolidated net profit at Rs 5,070.09 crore for the third quarter ended December 2022, helped by growth momentum across its operating segments. Revenue from operations was up 3.56% to Rs 19,020.65 crore during the quarter under review, as against Rs 18,365.80 crore in the corresponding period of the previous fiscal.

BoB Q3 profit rises 75%

Bank of Baroda on Friday reported a 74.76% jump in its consolidated net profit at Rs 4,305.66 crore during the quarter ended December. — PTI

Post-tax profit rises to Rs 14,205 cr

• On a standalone basis, the lender’s net post-tax profit grew to Rs 14,205 crore during the October-December 2022 period, up from Rs 8,432 crore in the year-ago period and Rs 13,265 crore in the preceding July-September quarter
• The total income grew to Rs 98,084 crore from Rs 78,351 crore in the year-ago period, while the operating expenses were up at Rs 24,317 crore from Rs 20,839 crore, as per an exchange filing

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