SBI Delivers Stellar Q4 Profit of Rs 838 Crore
Last Updated: 29 June, 2024
2 min read
00:00 / 00:00
State Bank Of India (SBI)
The State Bank of India registered a Net Profit of Rs. 838 Cr during Q4 FY 2019 as against Net Loss of Rs. 7,718 Cr in the corresponding period last year.
Its operating profit was up 6 percent at Rs 16,933 crore versus Rs 15,883 crore, YoY.
Net Interest Income grew by 14.92% YoY in Q4 FY 2019 to Rs 22,954 crore versus Rs 19,974 crore.
Attributable mainly to growth in Domestic Credit, Improved Spreads and Lower Slippages. As a result, the Domestic Net Interest Margins increased to 3.02% in Q4 FY 2019.
The company’s gross NPA was down at 7.53 percent against 8.71 percent, while net NPA was down at 3.01 percent versus 3.95 percent, QoQ.
The gross NPA was down to Rs 1.72 lakh crore from Rs 1.88 lakh crore, while net NPA was at Rs 65,895 crore against Rs 80,944 crore, QoQ.
The bank has made a provision of Rs 3,984 crore (Total Rs 5,643.41 crore) for the year ended March 31, 2019 .
Its total non-performing assets stood at Rs. 1,72,750 crore at the end of March quarter compared with Rs. 1,87,764 crore at the end of December quarter.
The SBI stock was up by 2.54 at the end of the market quoting at
306.90 .
The content on this blog is for educational purposes only and should not be considered investment advice. While we strive for accuracy, some information may contain errors or delays in updates.
Mentions of stocks or investment products are solely for informational purposes and do not constitute recommendations. Investors should conduct their own research before making any decisions.
Investing in financial markets are subject to market risks, and past performance does not guarantee future results. It is advisable to consult a qualified financial professional, review official documents, and verify information independently before making investment decisions.
