SBI Shares Dip as Profit Declines Amid Narrowing Interest Margins

State Bank of India reported an 8.34% fall in net profit for January-March, leading to a decline in its shares by over 1%. The standalone profit dropped to Rs 18,642 crore, while net interest margin narrowed, impacting earnings despite a 12% loan growth.

Shares of State Bank of India declined by more than 1% on Monday, following the firm's report of an 8.34% drop in consolidated net profit for the January-March quarter.

The stock fell 1.26% to settle at Rs 790 on the BSE, having dropped 2% during the day. On the NSE, it decreased by 1.17%, closing at Rs 790.60 after reaching a low of Rs 782 during intra-day trading.

State Bank of India announced a consolidated net profit decrease to Rs 19,600 crore, impacted by lower net interest margins. The bank's total income rose to Rs 1,79,562 crore in FY25 from Rs 1,64,914 crore the previous year, despite narrow margins and increased core net interest income by 2.69%.

(With inputs from agencies.)