State Bank of India on Friday reported a modest 1.1 per cent year-on-year (YoY) rise in consolidated net profit for the fourth quarter (Q4) of FY26, aided by steady growth in advances and deposits. 

India’s largest lender posted a net profit of Rs 20,1 61.30 crore for the January-March quarter, compared to Rs 19.941.39 crore in the corresponding period previous financial year (Q4 FY25), according to its stock exchange filing.

However, the lender’s standalone net profit jumped 5.6 per cent year-on-year for the fourth quarter.

The standalone net profit of the firm was Rs 19,683.75 crore, compared to Rs 18,642.59 crore in the corresponding period previous financial year.

On a sequential basis, however, profit declined 6.4 per cent from Rs 21,028.15 crore reported in the December quarter (Q3 FY26).

For the full financial year FY26, SBI reported a nearly 13 per cent increase in profit at Rs 80,032.01 crore, up from Rs 70,900.63 crore in FY25.

The bank’s operating profit during the quarter fell 11.45 per cent year-on-year (YoY) and 15.7 per cent quarter-on-quarter (QoQ) to Rs 27,704 crore.

Net interest income (NII) rose 4.13 per cent from a year ago to Rs 44,380 crore, though it slipped 1.35 per cent sequentially, as per its filing.

SBI’s domestic net interest margin (NIM) moderated to 2.93 per cent, declining by 21 basis points year-on-year and 18 basis points from the previous quarter.

Asset quality improved further during the quarter. Gross non-performing assets (NPAs) declined 4.46 per cent year-on-year to Rs 73,452 crore, helping the gross NPA ratio improve to 1.49 per cent from 1.82 per cent a year earlier.

Net NPA ratio also improved to 0.39 per cent, compared to 0.47 per cent in the year-ago quarter, despite a marginal sequential increase in net NPAs.

The shares of the company were trading at Rs 1,029.80, down by Rs 62.20 or 5.70 per cent during the last-leg session.