SBI Q1 net profit up 10%, stock rallies 3.6%

State Bank of India, which is one of the biggest banks in India, told everyone how much money it made in the last three months.

The bank said its profit went up by 10% compared to the same time last year.

It also earned a little more money from giving out loans.

Because the news was good, people who own shares in the bank became happy and the share price went up by about 3.6%.

The bank also said it has fewer bad loans now than it did before, which is a good sign.

Bad loans are when people do not pay back the money they borrowed.

The bank set aside more money to cover future problems, which is called provisions.

Even with that, the bank is doing well and making money for the people who invested in it.

The stock has also given a return of 7.6% in the past month.

Overall, this means the bank is healthy and getting stronger.