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SBI stock jumps 2% on D-Street ahead of Q4 result – Indiainfoline

The State Bank of India (SBI) stock is in focus on Friday ahead of the lender’s March 2021 (Q4FY21) quarterly result scheduled for later today. On Sensex, SBI share has jumped by at least 2.2% with an intraday high of Rs393.10 per piece in early deals.

At around 11.29 AM, SBI is trading at Rs391 per piece up by 1.7% on Sensex.

SBI is expected to report a healthy fourth quarter for FY21. Among key things would be lower provisions, a rise in net interest income & pre-provision operating profit that will lift the lender’s bottom line further.

In December 2021 (Q3FY21) quarter, SBI posted a 7% yoy drop in net profit to Rs5,196cr. The latest PAT increased by 13.60% from Rs4,574cr of the September 2021 quarter. The lender’s net interest income in Q3FY21 stood at Rs27,779cr higher by 3.75% yoy and 2.27% QoQ. Domestic NIM for the quarter at 3.34%, has remained stable sequentially.

In the third quarter, the bank’s asset quality improved as the Net NPA ratio at 1.23% is down 142 bps YoY and 36 bps QoQ. The Gross NPA ratio at 4.77% is down 217 bps YoY and 51 bps QoQ.