The profit figure came in way higher than Rs 2,000 crore estimated by analysts in an ET NOW poll.
Gross non-performing assets (NPAs) for the quarter eased sequentially to 6.15 per cent of total advances from 6.91 per cent in the December quarter and 7.53 per cent in the year-ago quarter.
Total provisions and contingencies for the quarter fell to Rs 13,495 crore compared with Rs 16,501.89 crore in the year-ago quarter. This was, however, double the Rs 7,252 crore provisions the bank made in the December quarter.
Net interest income (NII) for the quarter fell 0.81 per cent year-on-year (YoY) to Rs 22,767 crore from Rs 22,954 crore.
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Net interest margin (NIM)) for the quarter came in at 3.02 per cent, down 65 basis points sequentially against December quarter's 3.59 per cent and down 9 basis points YoY from March 2019's 2.94 per cent.
The bank said a total of 21.8 per cent of its customers availed the RBI moratorium. In terms of the loan value, it stood at 23 per cent.
SBI said 38.9 per cent of its corporate loans have been to PSUs and government departments. While 60.8 per cent of personal retail loans are to low-risk mortgages. It said that over 95 per cent of its unsecured personal lending is to government/PSU employees.
"Exposure to severely stressed sectors by Covid-19 is less than 4 per cent of the book," the bank said.
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