State Bank of India has reported a net profit of Rs 14,430 crore for the quarter ended September 2023, an increase of 8% over Rs 13,265 crore in the corresponding quarter last year. The increase was driven by a sharp drop in provisions for bad loans as asset quality improved. The operating profit was down 8% at Rs 19,417 crore compared to Rs 21,120 crore in the corresponding quarter last year, despite net interest income rising 18% Rs 39,500 crore.