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State Bank of India FY2019-Q3 net profit at Rs.3,955 crore – 1st Feb 2019

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SBI swings to profit, posts Q3 net of Rs 3,955 crore as provisions plunge YoY

  • Net profit at Rs. 3,955 crore versus net loss of Rs. 2,416 crore.
  • Net Interest Income up 21% to Rs. 22,691 crore.
  • GNPA at 8.71% versus 9.95% (QoQ)
  • NNPA at 3.95% versusl 4.84% (QoQ)

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ET Now: State Bank of India – FY Q3 2019 results February 1, 2019

State Bank of IndiaNSE -3.15 % on Friday reported a profit of Rs 3,954.81 crore for the quarter ended December 31 against a loss of Rs 2,416.34 crore in the corresponding quarter last year.

Analysts in an ET Now poll had projected a profit of Rs 3,200 crore.

Provisions and contingencies declined sharply 68 per cent YoY to Rs 6,006.22 crore during the quarter under review. The figure stood at Rs 18,876.21 crore in the same period last year and Rs 12,092.17 crore in the sequential quarter ended September 30.

Shares of the lender closed 3.09 per cent down at Rs 284.30 after the announcement of quarterly numbers.

Net interest income (NII) increased 19.28 per cent YoY to Rs 22,290.99 crore in Q3FY19 over Rs 18,687.52 crore in Q3FY18.

Asset quality of the lender improved during the quarter with percentage of gross non-performing assets coming in at 8.71 per cent against 9.95 per cent sequentially. The figures stood at 10.35 per cent in the corresponding quarter last year.

Percentage of net non-performing assets eased to 3.95 per cent over 4.84 per cent on a QoQ basis.

Fresh slippages came in at Rs 4,532 crore in Q3FY19.

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