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SBI Announces Quarterly Results (3QFY19); Net Profit Up 263.7%

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SBI Announces Quarterly Results (3QFY19); Net Profit Up 263.7%
Mon, 4 Feb

SBI has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

SBI Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Operating incomeRs m548,029587,935622,7665.9%13.6%
Other incomeRs m80,84278,14580,3522.8%-0.6%
Total revenuesRs m628,871666,080703,1185.6%11.8%
InterestRs m361,154378,878395,8564.5%9.6%
Gross Profit Rs m186,875209,057226,9108.5%21.4%
Other expensesRs m150,171163,759181,01310.5%20.5%
Profit before taxRs m-71,21618,12766,187265.1%
TaxRs m-47,0538,67826,639207.0%
Profit after taxRs m-24,1649,44939,548318.6%
Gross profit margin %34.135.636.4
Effective tax rate%66.147.940.2
Net profit margin%-4.41.66.4
* 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 13.6% on a year-on-year (YoY) basis. The interest expended was up by 9.6% YoY during the same period.
  • The bank's operating profit increased by 21.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.4% in 3QFY19 as against 34.1% in 3QFY18.
  • Other income declined by 0.6% YoY during the quarter.
  • Net profit for the quarter increased by 263.7% YoY. Net profit margins during the quarter increased from -4.4% in 3QFY18 to 6.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.9% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 4.5% QoQ during the same period.
  • The bank's operating profit increased by 8.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.4% in 3QFY19 as against 35.6% in 2QFY18.
  • Net profit for the quarter increased by 318.6% QoQ, while net profit margins increased from 1.6% in 2QFY18 to 6.4% in 3QFY19.

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

SBI Share Price Performance

Over the last one year, SBI share price has moved up from Rs 296.9 to Rs 282.2, registering a Loss of Rs 14.7 or around 5.0%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 30,222.4 (down 0.6%). Over the last one year it has moved up from 29,910.2 to 30,222.4, a gain of 312 points (up 1.0%).

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 282.2, the price to book value (P/BV) ratio of SBI stands at 1.0 times.

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