SBI Announces Quarterly Results (1QFY22); Net Profit Up 44.9%

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SBI Announces Quarterly Results (1QFY22); Net Profit Up 44.9%
Thu, 5 Aug

SBI has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

SBI Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Operating incomeRs m699,400680,327689,6001.4%-1.4%
Other incomeRs m180,444353,980243,070-31.3%34.7%
Total revenuesRs m879,8431,034,306932,669-9.8%6.0%
InterestRs m403,013383,888382,491-0.4%-5.1%
Gross Profit Rs m296,387296,438307,1093.6%3.6%
Other expensesRs m292,751438,638341,876-22.1%16.8%
Profit before taxRs m72,12596,614103,2006.8%43.1%
TaxRs m20,09023,91127,80816.3%38.4%
Profit after taxRs m52,03572,70375,3923.7%44.9%
Gross profit margin %42.443.644.5
Effective tax rate%27.924.726.9
Net profit margin%7.410.710.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter fell 1.4% on a year-on-year (YoY) basis. The interest expended was down by 5.1% YoY during the same period.
  • The bank's operating profit increased by 3.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 44.5% in 1QFY22 as against 42.4% in 1QFY21.
  • Other income increased by 34.7% YoY during the quarter.
  • Net profit for the quarter increased by 44.9% YoY. Net profit margins during the quarter increased from 7.4% in 1QFY21 to 10.9% in 1QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.4% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.4% QoQ during the same period.
  • The bank's operating profit increased by 3.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 44.5% in 1QFY22 as against 43.6% in 4QFY21.
  • Net profit for the quarter increased by 3.7% QoQ, while net profit margins increased from 10.7% in 4QFY21 to 10.9% in 1QFY22.

To see how SBI has performed over the last eight quarters,please visit here.

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SBI Share Price Performance

Over the last one year, SBI share price has moved up from Rs 191.5 to Rs 441.9, registering a Gain of Rs 250.4 or around 130.7%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 40,801.3 (down 0.5%). Over the last one year it has moved up from 24,430.1 to 40,801.3, a gain of 16,371 points (up 67.0%).

Overall, the S&P BSE SENSEX is up 47.5% over the year.

Current Valuations

At the current price of Rs 441.9, the price to earnings (P/E) ratio of SBI stands at 14.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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