SBI Q3 FY26: Beats Estimates on Profit, NPA Clean‑Up

Beat vs Estimates

- Net Profit: ₹21,028 Cr (vs est ₹17,540 Cr).

- NII: ₹45,191 Cr (vs est ₹44,658 Cr).

Standalone Performance

- PAT +24% YoY to ₹21,028 Cr (+4% QoQ).

- NII +9% YoY to ₹45,191 Cr (+5% QoQ).

- PPOP +40% YoY to ₹32,862 Cr (+20% QoQ).

- Provisions ‑17% QoQ to ₹4,506 Cr.

Consolidated

- PAT +13% YoY to ₹21,317 Cr (+1% QoQ).

Asset Quality

- GNPA 1.57% (vs 2.07% YoY, 1.73% QoQ); absolute ₹73,636 Cr (‑3% QoQ).

- NNPA 0.39% (vs 0.53% YoY, 0.42% QoQ); absolute ₹18,012 Cr (‑2% QoQ).

Key Takeaway:

SBI's 24% PAT beat + pristine 1.57/0.39% NPAs underscore operating leverage & clean‑up – sets tone for banking peers in capex/credit cycle.