SBI Reports 15% YoY Profit Growth in Q2, Shares Rise 2%

• State Bank of India reported a 15% year-on-year growth in standalone net profit for Q2, reaching Rs 23,038 crore.
• The bank's loan book expanded to over Rs 52 lakh crore during the quarter.
• Shares of SBI gained 2% to Rs 988 on the BSE following the profit announcement.
• The growth was supported by strong credit growth and a one-time gain from a sale of shares in its funds management unit.
• Operating profit for the quarter was Rs 31,824 crore, up 15% year-on-year.