SBI dips 3% on profit booking post June quarter results

Gradual improvement in margin, steady operational efficiency coupled with adequate provision buffer to aid earning momentum, analysts said.

Shares of State Bank of India (SBI) dipped 3 per cent to Rs 514 on the BSE in Monday’s intra-day trade on profit booking after the public sector bank reported 6.7 per cent year-on-year (YoY) decline in its net profit at Rs 6,068 crore for the quarter ended June 2022 (Q1FY23) due to a sharp fall in non-interest income, as mark-to-market losses rose. The lender had reported a net profit of Rs 6,504 crore in the corresponding period of the last year (Q1FY22).

Net interest income of the lender grew 13 per cent YoY to Rs 31,196 crore in