SBI trades higher ahead of Q4 results; here’s what to expect
Shares of State Bank of India (SBI) were trading over 1 per cent higher in early trade on Friday ahead of its financial results for the quarter ended March 31, 2017.
The scrip was trading 1.80 per cent up at Rs 308.40 around 10.10 am (IST).
Shares of the country’s largest lender opened at Rs 304.80 and touched a high and low of Rs 304.80 and Rs 304.25, respectively, in trade so far.
Benchmark BSE Sensex was trading 240.79 points, or 0.79 per cent, up at 30,675.58.
According to Edelweiss Securities, SBI is likely to register 181.90 per cent year-on-year rise in consolidated core net profit at Rs 3,562.60 crore for the quarter ended March 31, 2017. Pre-provision operating profit of SBI is likely to jump 1.6 per cent on a year-on-year basis to Rs 14,417 crore in Q4FY17.
“Loan growth of SBI is likey to be softer, but net interest income (NII) to be supported by lower funding cost. Incremental stress will likely be curtailed, keeping credit cost within initial guidance (movement of the watchlist needs to be seen). Further, the outlook on FY18, both from watchlist and merger cost/benefit, will hold key,” Edelweiss Securities said.
For the previous quarter ended December 31, 2016, SBI reported net profit of Rs 2,152.23 crore, up 70.88 crore, against Rs 1,259.49 crore in the corresponding quarter last year.
Brokerage firm Motilal Oswal is expecting strong performance from SBI in Q4FY.
The scrip was trading 1.80 per cent up at Rs 308.40 around 10.10 am (IST).
Shares of the country’s largest lender opened at Rs 304.80 and touched a high and low of Rs 304.80 and Rs 304.25, respectively, in trade so far.
Benchmark BSE Sensex was trading 240.79 points, or 0.79 per cent, up at 30,675.58.
According to Edelweiss Securities, SBI is likely to register 181.90 per cent year-on-year rise in consolidated core net profit at Rs 3,562.60 crore for the quarter ended March 31, 2017. Pre-provision operating profit of SBI is likely to jump 1.6 per cent on a year-on-year basis to Rs 14,417 crore in Q4FY17.
“Loan growth of SBI is likey to be softer, but net interest income (NII) to be supported by lower funding cost. Incremental stress will likely be curtailed, keeping credit cost within initial guidance (movement of the watchlist needs to be seen). Further, the outlook on FY18, both from watchlist and merger cost/benefit, will hold key,” Edelweiss Securities said.
For the previous quarter ended December 31, 2016, SBI reported net profit of Rs 2,152.23 crore, up 70.88 crore, against Rs 1,259.49 crore in the corresponding quarter last year.
Brokerage firm Motilal Oswal is expecting strong performance from SBI in Q4FY.