SBI Shares Hit Record High After Q3 FY26 Profit Rises 24.5% YoY

State Bank of India’s share price rose 5.5% to a fresh record high of ₹1,125 on February 9 after the public sector lender reported its highest-ever standalone quarterly profit for the December quarter of FY26, as per its exchange filing. The stock closed the previous session at ₹1,066.50.

The country’s largest bank posted a standalone net profit of ₹21,028 crore in Q3 FY26, marking a 24.5% year-on-year increase from ₹16,891.44 crore in the corresponding quarter last year, according to data released by the bank. SBI said the growth was supported by steady core income, improved asset quality, and a special dividend received from SBI Mutual Fund.

The stock has now gained more than 65% from its 52-week low of ₹679.65 recorded in March 2025. Over the past year, SBI shares have been up 44%, based on exchange data.

Income Growth And Dividend Lift Profitability

SBI reported total standalone income of ₹1,40,914.65 crore in Q3 FY26, up 9.7% from ₹1,28,467.39 crore a year earlier, according to the results statement. Net interest income increased 9% year-on-year to ₹45,190 crore during the quarter.

Operating profit rose sharply by 39.54% to ₹32,862 crore, supported by higher income and operating leverage. The bank’s whole-bank net interest margin stood at 2.99% for the quarter, while domestic NIM was reported at 3.12%.

A one-time special dividend of ₹2,200 crore from SBI Mutual Fund contributed to the profit for the quarter, the bank disclosed in its filing. The asset management arm is in the process of preparing for an initial public offering.

Asset Quality Improves Further In December Quarter

SBI reported an improvement in asset quality during Q3 FY26. Gross non-performing assets declined 12.71% year-on-year to ₹73,637 crore, while net NPAs fell 15.74% to ₹18,012 crore, according to the bank’s data. The gross NPA ratio improved to 1.57% as of December 31, 2025, compared with 1.73% at the end of September 2025.

Provisions increased to ₹4,507 crore during the quarter from ₹911 crore in the year-ago period. Fresh slippages were reported at ₹4,458 crore, compared with ₹3,823 crore in Q3 FY25.

On a consolidated basis, SBI reported a net profit of ₹21,876.04 crore for the December quarter, up 14.08% year-on-year from ₹19,175.35 crore, as per the results statement.

As of December 31, 2025, SBI’s total loan book stood at ₹46.8 trillion, while deposits rose 9.02% year-on-year. The credit-deposit ratio was reported at 72%, according to the bank’s disclosure.