The country’s biggest state-owned lender State Bank of India on Friday reported a 41.27 percent jump in standalone net profit for the quarter ending March at Rs 9,113.53 crore, up from Rs 6,450.75 crore in the same quarter a year ago, which was below Street's estimate of Rs 9,927.6 crore. The lender also announced a dividend of Rs 7.10 per share. The date of payment of the Dividend is fixed on June 10, 2022.
SBI's profit grew 8 percent from Rs 8,432 crore in Q3FY22, driven primarily by a healthy increase in net interest income (NII).SBI's net interest income for the reported quarter came in at Rs 31,198 crore as against analysts' expectations of Rs 31,800 crore. This is 15.26 percent higher than Rs 27,067 crore the company announced last year.
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