SBI Q1 PAT may fall 4.4% at Rs 3587 cr: P Lilladher

Prabhudas Lilladher expects State Bank of India (SBI) to report a 8.7 percent growth quarter-on-quarter (fall of 4.4 percent year-on-year) in net profit at Rs 3,587.2 crore.

August 08, 2013 / 07:31 PM IST
 
 
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Prabhudas Lilladher has come out with its first quarter (April-June) earnings estimates for the banking sector. The brokerage house expects State Bank of India (SBI) to report a 8.7 percent growth quarter-on-quarter (fall of 4.4 percent year-on-year) in net profit at Rs 3,587.2 crore.


Net interest income is expected to increase by 4.6 percent Q-o-Q (up 4.2 percent Y-o-Y) to Rs 11,589.1 crore, according to Prabhudas Lilladher.


Prabhudas Lilladher report on State Bank of India

We expect PAT to contract by 4.4 percent Y-o-Y. We expect margins to remain flat Q-o-Q after a muted performance in Q4FY13. Due to pensions and wage revisions, we would expect opex growth to remain elevated. Gross NPA performance in Q4FY13 seems to be under check as per mgt guidence but considering large exposures in CDR, we expect restructuring could remain elevated.

first published: Aug 8, 2013 07:31 pm

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