SBI's third quarter net profit fell 35 percent to Rs 9,163 crore

State Bank of India (SBI) reported a 35 per cent decline in net profit at Rs 9,163 crore in the October-December quarter of the current financial year.

SBI said the decline in profit is due to higher pension cost of its employees and a one-time extraordinary item of Rs 7,100 crore for provision of salary revision.

The country's largest bank had earned a net profit of Rs 14205 crore in the same quarter last year.

The bank said it earned Rs 105,733.78 crore in interest income in Q3FY24, up 22 per cent from Rs 86,616.04 crore reported in the year-ago period.

The net interest income (NII) of the country's largest bank stood at Rs 39,815 crore for the quarter.