State Bank of India reported a 5.6% YoY rise in standalone net profit to ₹19,684 crore for the March quarter, beating analyst estimates despite an intraday decline in shares. Meanwhile, Punjab National Bank reported a 14.41% rise in profit to ₹5,225.11 crore during the same period. Despite profit growth, SBI’s net interest margin narrowed to 2.93%, down 21 basis points YoY.