SBI Q3FY21 results : State Bank of India Q3FY21 net profit drops by 6.9% YOY to INR51.9bn

State Bank of India (SBI) registered a 6.93% decline in its net profit for the third quarter of the fiscal year 2021 (Q3FY21) at INR 51.96 billion compared to INR 55.83 billion made in Q3FY20.

However, SBI Q3FY21 net profit was 13.6% more than the INR 45.74 billion reported in the second quarter of FY21.

The Indian public sector bank saw a 4.88% reduction in its operating profit for the reported quarter at INR 173.33 billion in Q3FY21 compared to Q3FY20 operating profit of INR 182.23 billion

The net profit for the first nine months of FY21 (9MFY21), SBI recorded a 27.99% increase at INR 139.6 billion compared to INR 109.07 billion made in 9MFY20.