SBI Announces Quarterly Results (4QFY19); Net Profit Up 110.9%

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SBI Announces Quarterly Results (4QFY19); Net Profit Up 110.9%
Mon, 13 May

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

SBI Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Operating incomeRs m559,413622,766629,8541.1%12.6%
Other incomeRs m124,94880,352126,85157.9%1.5%
Total revenuesRs m684,361703,118756,7057.6%10.6%
InterestRs m359,670395,856400,3161.1%11.3%
Gross Profit Rs m199,743226,910229,5381.2%14.9%
Other expensesRs m165,859181,013187,0593.3%12.8%
Profit before taxRs m-122,12966,1874,312-93.5%
TaxRs m-44,94726,639-4,072-115.3%
Profit after taxRs m-77,18239,5488,384-78.8%
Gross profit margin %35.736.436.4
Effective tax rate%36.840.2-94.4
Net profit margin%-13.86.41.3
* 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 12.6% on a year-on-year (YoY) basis. The interest expended was up by 11.3% YoY during the same period.
  • The bank's operating profit increased by 14.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 36.4% in 4QFY19.
  • Other income increased by 1.5% YoY during the quarter.
  • Net profit for the quarter increased by 110.9% YoY. Net profit margins during the quarter increased from -13.8% in 4QFY18 to 1.3% in 4QFY19.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.1% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 1.1% QoQ during the same period.
  • The bank's operating profit increased by 1.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 36.4% in 4QFY19 as against 36.4% in 3QFY18.
  • Net profit for the quarter declined by 78.8% QoQ, while net profit margins declined from 6.4% in 3QFY18 to 1.3% in 4QFY19.

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 250.9 to Rs 312.3, registering a Gain of Rs 61.4 or around 24.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 32,431.3 (up 0.1%). Over the last one year it has moved up from 29,688.9 to 32,431.3, a gain of 2,742 points (up 9.2%).

Overall, the S&P BSE SENSEX is up 6.6% over the year.

Current Valuations

At the current price of Rs 312.3, the price to earnings (P/E) ratio of SBI stands at 281.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.1 times.

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