SBI Q3 result: Net profit soars 69% YoY to Rs 14,205 crore, beats estimates

SBI Q3 result: The profit number beat Street estimate. Consensus estimates by Bloomberg had projected net profit at Rs 13,196 crore

SBI Q3 result: India's biggest government-owned lender, State Bank of India (SBI), reported a 68.5 per cent year-on-year surge in net profit for the October-December quarter of financial year 2023 (Q3FY23). The bank reported standalone net profit of Rs 14,205 crore in Q3FY23, its highest ever in a quarter, as against net profit of Rs 8,432 crore in Q3FY22.

On a quarter-on-quarter basis, the profit rose 7 per cent from PAT of Rs 13,265 crore reported in the September quarter of this financial year. Operating profit for Q3FY23 was at Rs 25,219 crores, up 36.16 per cent YoY.

On the bourses,