State Bank of India ( SBI ) on Tuesday reported a 10% rise in its net profit at Rs 20,160 crore for the September quarter on the back of a one-time income of Rs 4,593 crore from the sale of shares of Yes Bank.

Excluding the one-time gain, the country’s largest lender reported an ordinary set of numbers, posting an operating profit of Rs 27,311 crore, a 7% year-on-year decline. On a sequential basis, SBI’s net profit rose by 5.2%. Analysts had estimated a net profit of Rs 17,387 crore.

The bank’s net interest income (NII) increased by 3.3% y-o-y and 4.7% q-o-q to Rs 42,984 crore. The lender’s net interest margin (NIM) came in at 2.97%, a contraction of 17 bps y-o-y, but up 7 bps q-o-q. NIM for the domestic business was 3.09%, down 18 bps y-o-y and up 7 bps q-o-q.

Domestic advances rose

See Full Page