SBI Q1 results: Profit estimate, up 12% to Rs 19,160 crore; edge under pressure
SBI Q1 results: The State Bank of India (SBI) reported a large number of people in the June quarter, with net profit rising 12.5% from last year to Rs 191,600 crore compared with Rs 170,350 crore in the same period last year. The figure above is the estimated value of Zee’s business at Rs 17,010 crore.
Even if profit margins are under pressure, the bottom line beat is helped by lower regulations and stable asset quality.
Net interest income (NII) was Rs 41,073 crore, almost flat, compared with Rs 41,126 crore last year, down from Rs 420,400 crore estimates. The profit margin narrowed to 3.02%, down from 3.35% a year ago.
SBI asset quality holding; supply QOQ
The total NPA was 1.83%, slightly above 1.80% in the previous quarter. The net value of net NPA remains unchanged at 0.47%.
The bank’s regulations are Rs 4.759 crore, down from Rs 64.4 billion in the March quarter but higher than Rs 3.45 crore a year ago. Zee Business is expected to be Rs 43 billion.
What is the bank talking about
Management’s margin guidance remains above 3%, but analysts are expected to continue to bear some pressure on rising deposit costs and turning points in rate cycles. SBI sees strong demand in its Xpress credit products and says its corporate loan pipeline and NRI deposit base are still strong. Retail loans continue to gain market share.
SBI Stock Performance
The stock hasn’t shifted much in the short term – down 1.22% in the past year, but has earned solid returns over a longer period of time:
3-year return: 50.4% growth
5-year return: 319% growth
10-year return: 184% growth
SBI stock was down 1.56% as of 13:29 pm on Friday.
