State Bank of India share surge post-Q4 results

Shares of State Bank of India (SBI) rose on Monday after the bank reported a strong performance in the January-March quarter.

At 12.32 AM, shares of the state-run bank on the NSE were at Rs 409.75, up Rs 8.55 or 2.13 percent.

Around 11.30 AM., shares of the state-run bank on the BSE were at Rs 411.85, higher by Rs 10.75 or 2.68 percent from its previous close.

On Friday, the bank reported a rise of 80.15 percent in its net profit for the Q4FY21 on a year-on-year basis to Rs 6,451 crore.

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Sequentially, the net profit has increased by 24.14 percent.

Besides, YoY Q4FY21 net interest income increased by 18.89 per cent to Rs 27,067 crore from Rs 22,767 crore reported for Q4FY20.

In terms of fiscal year, the bank's FY21 net profit rose by 40.88 per cent to Rs 20,410 crore from Rs 14,488 crore in FY20.