SBI Announces Quarterly Results (2QFY20); Net Profit Up 218.7%

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SBI Announces Quarterly Results (2QFY20); Net Profit Up 218.7%
Tue, 29 Oct

SBI has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

SBI Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m587,935626,378643,1242.7%9.4%
Other incomeRs m78,14580,15485,3846.5%9.3%
Total revenuesRs m666,080706,532728,5083.1%9.4%
InterestRs m378,878396,990397,1210.0%4.8%
Gross Profit Rs m209,057229,388246,0037.2%17.7%
Other expensesRs m163,759177,081184,2434.0%12.5%
Profit before taxRs m18,12740,63250,59824.5%179.1%
TaxRs m8,67817,51020,48117.0%136.0%
Profit after taxRs m9,44923,12230,11730.3%218.7%
Gross profit margin %35.636.638.3
Effective tax rate%47.943.140.5
Net profit margin%1.63.74.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 9.4% on a year-on-year (YoY) basis. The interest expended was up by 4.8% YoY during the same period.
  • The bank's operating profit increased by 17.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 38.3% in 2QFY20 as against 35.6% in 2QFY19.
  • Other income increased by 9.3% YoY during the quarter.
  • Net profit for the quarter increased by 218.7% YoY. Net profit margins during the quarter increased from 1.6% in 2QFY19 to 4.7% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.7% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.0% QoQ during the same period.
  • The bank's operating profit increased by 7.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 38.3% in 2QFY20 as against 36.6% in 1QFY19.
  • Net profit for the quarter increased by 30.3% QoQ, while net profit margins increased from 3.7% in 1QFY19 to 4.7% in 2QFY20.

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 268.1 to Rs 281.9, registering a Gain of Rs 13.8 or around 5.1%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,444.2 (up 0.1%). Over the last one year it has moved up from 28,029.4 to 33,444.2, a gain of 5,415 points (up 19.3%).

Overall, the S&P BSE SENSEX is up 16.0% over the year.

Current Valuations

At the current price of Rs 281.9, the price to earnings (P/E) ratio of SBI stands at 21.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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