SBI Q1 Net Profit Surges Past Estimates to ₹21,121 Crore

State Bank of India reported a consolidated net profit of approximately ₹21,121 crore for the first quarter of FY27, comfortably surpassing analyst estimates of approximately ₹19,052 crore. Net interest income stood at approximately ₹46,992 crore against an estimated ₹46,214 crore, reflecting robust credit growth across retail and corporate segments. Operating profit came in at approximately ₹33,529 crore, significantly higher than the estimated ₹30,403 crore, showcasing improved core operating efficiencies and disciplined cost management during the quarter.

The bank's asset quality metrics showed continued resilience, with gross Non-Performing Assets improving to approximately 1.47% compared to the consensus estimate of approximately 1.59%. Net NPA stood at approximately 0.38%, also better than the estimated 0.40%. This steady reduction in bad loans highlights rigorous risk underwriting standards implemented by management, helping shield the balance sheet from macroeconomic headwinds and lower credit costs.

Following the stellar earnings announcement, SBI shares surged as much as approximately 3.6% during the session, outperforming the broader Nifty Bank index which declined 0.55%. Investors responded favorably to the margin expansion and asset quality resilience, positioning the public sector lender well ahead of peers. Next event: Q2 results expected in October 2026.