State Bank Of India Q2 FY27 Results: Consolidated Net Profit ₹25,741 Crore on Total Income of ₹1,87,756 Crore
- Earnings
- Banking
Reviewed byKeshav SehgalBlacklitt Research
State Bank Of India (NSE: SBIN) reported consolidated total income of ₹1,87,756.19 crore and consolidated net profit of ₹25,741.47 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026. Standalone total income was ₹1,43,796.01 crore and standalone net profit was ₹23,037.95 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,87,756.19 crore, up 6.7% YoY and 4.3% QoQ
- Net profit and EPS: ₹25,741.47 crore, up 19.7% YoY; basic EPS ₹27.47
- Net profit attributable: ₹25,361.16 crore to owners of the bank
- Other income: ₹46,682.85 crore, 24.9% of total income
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,43,796.01 crore, up 6.5% YoY and flat QoQ
- Net profit and EPS: ₹23,037.95 crore, up 14.3% YoY; basic EPS ₹24.96
- Exceptional item: ₹7,288.47 crore pre-tax gain on sale of SBI Funds Management stake
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,87,756.19 | 1,75,897.79 | +6.7% | 1,80,061.86 | +4.3% | |
| Other income | 46,682.85 | 47,994.35 | -2.7% | 43,821.37 | +6.5% |
| 25,741.47 | 21,504.49 | +19.7% | 24,579.04 | +4.7% | |
| Profit before tax | 33,555.41 | 28,656.64 | +17.1% | 32,883.80 | +2.0% |
| Finance costs | 84,272.58 | 78,002.37 | +8.0% | 82,247.57 | +2.5% |
| Depreciation | 2,757.92 | 2,313.83 | +19.2% | 2,313.83 | +19.2% |
| Tax expense | 7,813.94 | 7,152.15 | +9.3% | 8,304.76 | -5.9% |
| Net profit margin | 13.71% | 12.23% | +1.48 pp | 13.65% | +0.06 pp |
| EPS, basic (₹) | 27.47 | 22.81 | +20.4% | 26.12 | +5.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than total income, at 19.7% against 6.7%.
Other income of ₹46,682.85 crore is 24.9% of total income and 139.1% of profit before tax of ₹33,555.41 crore. Finance costs of ₹84,272.58 crore are 44.9% of total income, up 8.0% YoY. The notes list a consolidated exceptional item of ₹6,879.26 crore pre-tax on the sale of the SBI Funds Management stake, net of Accounting Standard 21 adjustments, for the half year.
The notes also say that consolidated income from the National Stock Exchange and ARCIL offerings was credited to Capital Reserve rather than the profit and loss account, so it is not in the quarter's net profit.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,43,796.01 | 1,34,979.47 | +6.5% | 1,43,819.15 | 0.0% | |
| Other income | 11,777.46 | 15,462.60 | -23.8% | 15,922.69 | -26.0% |
| 23,037.95 | 20,159.67 | +14.3% | 21,121.22 | +9.1% | |
| Profit before tax | 30,008.85 | 26,504.02 | +13.2% | 28,482.41 | +5.4% |
| Finance costs | 82,875.70 | 76,669.87 | +8.1% | 80,904.02 | +2.4% |
| Tax expense | 6,970.90 | 6,344.35 | +9.9% | 7,361.19 | -5.3% |
| Net profit margin | 16.02% | 14.94% | +1.09 pp | 14.69% | +1.34 pp |
| EPS, basic (₹) | 24.96 | 22.00 | +13.5% | 22.88 | +9.1% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 14.3% YoY against 6.5% growth in total income, and 9.1% QoQ while total income was flat. Other income fell 23.8% YoY to ₹11,777.46 crore, which is 8.2% of total income.
The bank's stated exceptional item is a pre-tax profit of ₹7,288.47 crore on the sale of 6.30% of SBI Funds Management Limited, a subsidiary, through a pre-IPO and offer for sale. The stake stands at 55.56% as on 30 Sep 2026, down from 61.86%. Standalone tax expense of ₹6,970.90 crore is 23.2% of profit before tax of ₹30,008.85 crore.
Finance costs of ₹82,875.70 crore are 57.6% of total income. The Yes Bank stake sale in the year-ago half year was a pre-tax exceptional item of ₹4,593.22 crore standalone, so that base was also affected by an exceptional item.
Consolidated net profit of ₹25,741.47 crore is ₹2,703.52 crore higher than standalone net profit of ₹23,037.95 crore. The filing does not give a reconciliation between the two lines in the statement text read.
Inference
The auditors' limited review report contains an unmodified opinion on both standalone and consolidated results. The bank transferred ₹11,522.30 crore from the Investment Fluctuation Reserve to General Reserve in the half year, after RBI discontinued the requirement.
The bank paid a dividend of ₹16,015.12 crore in the half year and raised ₹4,691 crore of Basel III Additional Tier 1 bonds via private placement on 30 Jul 2026. Government of India holds 55.03%.
The Supreme Court on 15 Oct 2026 upheld the judgment on the write-down of ₹8,415 crore of Yes Bank AT1 bonds. The bank says it is evaluating the implications and has made no provision yet; the effect on future results is not known. The filing does not say how much the Special Allowance impact under the Labour Code will be.
Filed with BSE on . Reference: Original filing (PDF)
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