SBI Announces Quarterly Results (3QFY20); Net Profit Up 41.2%

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Markets will remain closed on 30th November, 2020 on account of Guru Nanak Jayanti.

SBI Announces Quarterly Results (3QFY20); Net Profit Up 41.2%
Sat, 1 Feb

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

SBI Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Operating incomeRs m622,766643,124676,9205.3%8.7%
Other incomeRs m80,35285,38491,0596.6%13.3%
Total revenuesRs m703,118728,508767,9795.4%9.2%
InterestRs m395,856397,121399,1320.5%0.8%
Gross Profit Rs m226,910246,003277,78812.9%22.4%
Other expensesRs m181,013184,243186,6221.3%3.1%
Profit before taxRs m66,18750,598109,697116.8%65.7%
TaxRs m26,63920,48153,863163.0%102.2%
Profit after taxRs m39,54830,11755,83485.4%41.2%
Gross profit margin %36.438.341.0
Effective tax rate%40.240.549.1
Net profit margin%6.44.78.2
* 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 8.7% on a year-on-year (YoY) basis. The interest expended was up by 0.8% YoY during the same period.
  • The bank's operating profit increased by 22.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.0% in 3QFY20 as against 36.4% in 3QFY19.
  • Other income increased by 13.3% YoY during the quarter.
  • Net profit for the quarter increased by 41.2% YoY. Net profit margins during the quarter increased from 6.4% in 3QFY19 to 8.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.3% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.5% QoQ during the same period.
  • The bank's operating profit increased by 12.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 41.0% in 3QFY20 as against 38.3% in 2QFY19.
  • Net profit for the quarter increased by 85.4% QoQ, while net profit margins increased from 4.7% in 2QFY19 to 8.2% in 3QFY20.

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

Last 2 Days: Discover India's #1 Defence Stock

SBI Share Price Performance

Over the last one year,SBI share price has moved up from Rs 284.3 to Rs 320.6, registering a Gain of Rs 36.3 or around 12.8%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 35,222.4 (down 0.2%). Over the last one year it has moved up from 30,412.2 to 35,222.4, a gain of 4,810 points (up 15.8%).

Overall, the S&P BSE SENSEX is up 12.5% over the year.

Current Valuations

At the current price of Rs 320.6, the price to earnings (P/E) ratio of SBI stands at 21.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.1 times.

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