SBI Q1 Results: Net profit down 6.7% at Rs 6,068 cr; misses Street estimates

SBI Q1 Results: Net profit down 6.7% at Rs 6,068 cr; misses Street estimates

The profit figure missed ET NOW poll projection of Rs 8,300 crore by a wide margin. Net interest income (NII) for the quarter rose 12.87 per cent YoY to Rs 31,196 crore compared with Rs 27,638 crore in the corresponding quarter last year. ET NOW poll estimated NII figure at Rs 32,500 crore. While provisions made during the quarter fell both sequentially and on YoY basis, mark-to-market losses in treasury operations weighed on the numbers. Net interest margin (NIM) for the quarter improved 8 basis points to 3.23 per cent from 3.15 per cent in the year-ago quarter. Asset quality improved, with gross non-performing assets ratio coming in at 3.91 …
More on: economictimes.indiatimes.com