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SBI Announces Quarterly Results (4QFY18); Net Profit Down 374.2%

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SBI Announces Quarterly Results (4QFY18); Net Profit Down 374.2%
Thu, 19 Jul

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

SBI Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Operating incomeRs m473,926548,029559,4132.1%18.0%
Other incomeRs m103,27580,842124,94854.6%21.0%
Total revenuesRs m577,201628,871684,3618.8%18.6%
InterestRs m293,219361,154359,670-0.4%22.7%
Gross Profit Rs m180,707186,875199,7436.9%10.5%
Other expensesRs m123,718150,171165,85910.4%34.1%
Profit before taxRs m42,864-71,216-122,129-384.9%
TaxRs m14,716-47,053-44,947-405.4%
Profit after taxRs m28,148-24,164-77,182-374.2%
Gross profit margin %38.134.135.7
Effective tax rate%34.366.136.8
Net profit margin%5.9-4.4-13.8
* 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 18.0% on a year-on-year (YoY) basis. The interest expended was up by 22.7% YoY during the same period.
  • The bank's operating profit increased by 10.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.7% in 4QFY18 as against 38.1% in 4QFY17.
  • Other income increased by 21.0% YoY during the quarter.
  • Net profit for the quarter declined by 374.2% YoY. Net profit margins during the quarter declined from 5.9% in 4QFY17 to 13.8% in 4QFY18.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 2.1% 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 6.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.7% in 4QFY18 as against 34.1% in 3QFY17.
  • Net profit for the quarter increased by 219.4% QoQ, while net profit margins declined from 4.4% in 3QFY17 to 13.8% in 4QFY18.

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 293.2 to Rs 260.4, registering a Loss of Rs -32.8 or around 11.2%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 29,605.7 (down 0.4%). Over the last one year it has moved up from 27,375.4 to 29,605.7, a gain of 2,230.3 points (up 8.1%).

Overall, the S&P BSE SENSEX is down 0.1% over the year.

Current Valuations

At the current price of Rs 260.4, the price to earnings (P/E) ratio of SBI stands at NM times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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