InvestorQ : Is it true that SBI has reported higher profits than RIL in this latest quarter?
Rashi Mehra made post

Is it true that SBI has reported higher profits than RIL in this latest quarter?

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Archita Jajjoo answered.
2 weeks ago
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That is absolutely correct. For the second quarter ended September 2022, SBI became India’s most profitable company with net profit of Rs14,572 crore on a consolidated basis. It thus pushes back Reliance Industries, whose profits had fallen to Rs13,656 crore in Q2 due to the Rs4,039 crore hit due to the impact of the windfall tax on oil products. SBI reported loan growth of over 20% while the net interest income (NII) grew 13% at Rs35,183 crore. SBI also improved its asset quality by 138 bps in and provisions were sharply lower.

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