State Bank of India Earnings Summary — Q1 FY2027
SBI Reports Solid Q1 FY2027 Performance with Net Profit Rising to ₹21,121 Crore
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 5 consecutive quarters.
- Revenue of ₹1.36 Lakh Cr is 8.4% higher year-on-year.
- Revenue has compounded at 6.8% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹24,113 Cr is 13.7% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 5.5% annualised across the period.
- Operating margin stands at 52.3% in Q1 FY2027.
- Operating margin compressed by 34 bps year-on-year.
- Over the last two years operating margin has contracted by 199 bps.
- PBT margin is 24.1%.
- Expenses grew 9.1% against revenue growth of 8.4%.
- Operating profit of ₹71,310 Cr is 7.7% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 74/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 1,36,240 | 1,31,080 | 1,30,386 | 1,28,041 | 1,25,729 | 1,26,840 | 1,24,654 | 1,21,045 | 1,18,242 | 1,17,469 |
| Expenses | Stable | 64,930 | 75,050 | 76,799 | 72,265 | 59,496 | 74,438 | 64,890 | 62,709 | 53,997 | 65,418 |
| Operating Profit | Improving | 71,310 | 56,030 | 53,587 | 55,775 | 66,232 | 52,402 | 59,763 | 58,335 | 64,246 | 52,051 |
| Operating Margin | Improving | 52.3% | 42.7% | 41.1% | 43.6% | 52.7% | 41.3% | 47.9% | 48.2% | 54.3% | 44.3% |
| Other Income | Stable | 43,821 | 49,999 | 55,262 | 50,884 | 41,263 | 52,722 | 43,200 | 42,758 | 33,883 | 47,445 |
| Interest | Stable | 82,248 | 79,953 | 78,783 | 78,002 | 78,266 | 78,227 | 77,397 | 73,619 | 71,701 | 70,644 |
| Depreciation | Insufficient data | — | — | — | — | — | — | — | — | — | — |
| Profit Before Tax | Stable | 32,884 | 26,076 | 30,067 | 28,657 | 29,229 | 26,897 | 25,566 | 27,474 | 26,428 | 28,852 |
| Tax | Improving | 8,305 | 5,914 | 8,191 | 7,152 | 7,602 | 6,955 | 6,391 | 7,255 | 6,747 | 7,115 |
| Net Profit | Stable | 24,113 | 19,643 | 21,317 | 21,137 | 21,201 | 19,600 | 18,853 | 19,783 | 19,325 | 21,384 |
| Net Margin | Stable | 17.7% | 15.0% | 16.4% | 16.5% | 16.9% | 15.4% | 15.1% | 16.3% | 16.3% | 18.2% |
Key Takeaways
- Standalone Net Profit for Q1 FY2027 grew by 10.23% YoY to ₹21,121.22 Crore.
- Gross NPA ratio improved significantly to 1.47% as of June 30, 2026, compared to 1.83% in the same quarter last year.
- Operating Profit saw a robust growth of 9.87% YoY reaching ₹33,529.18 Crore.
- Net Interest Income remained steady, with total interest income rising to ₹1,27,896.45 Crore, a 8.54% YoY increase.
- Capital Adequacy Ratio (Basel III) improved to 15.67% from 14.63% YoY, indicating a strengthened balance sheet.
- Digital Banking segment revenue saw a slight decline to ₹833.18 Crore compared to ₹1,185.63 Crore YoY.
- Provisions (other than tax) stood at ₹5,046.77 Crore, with a Provision Coverage Ratio (PCR) of 74.20%.
Management Guidance
Management remains focused on maintaining market share in the CASA segment and continuing the aggressive digital push via the YONO platform. The discontinuation of the Investment Fluctuation Reserve (IFR) resulted in the transfer of ₹11,522.30 Crore to General Reserves to bolster the capital base.
Sentiment Shift
Improving
Asset quality continues to reach multi-year highs with Gross NPA falling below 1.5%, while profitability maintains double-digit growth despite a maturing interest rate cycle.
Outlook
The bank is positioned as a proxy for the Indian economy, expecting to benefit from structural credit demand across both retail and corporate sectors while maintaining RoE levels above 15%.
From the Annual Report (Key Quotes)
“The financial results have been arrived at after considering necessary provisions for NPAs, Standard Assets, and Employee Benefits.”
“Provision Coverage Ratio (PCR) as on 30th June 2026 is 74.20%. PCR with AUCA is 91.82%.”
“The Bank has transferred the entire balance in IFR of ₹11,522.30 Crore to the General Reserve during the quarter.”
Official Quarterly Documents
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This summary is AI-generated from State Bank of India's latest quarterly filing and earnings call. For informational purposes only — not investment advice.