State Bank of India reported a 22.5 per cent drop in consolidated net profit for the September quarter to Rs 2,363.95 crore on the back of loan-loss provisioning of Rs 2,162 crore. Robust net interest margin and strong traction in the core fee income were key positives, but deterioration in asset quality took a toll on the financials.
However, results are not comparable with the year-ago period due to the merger of State Bank of Indore.
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