Asset quality weakened in December quarter but it was better compared to peers. Gross non-performing assets (NPA) increased 95 basis points QoQ and 20 bps YoY to 5.1 percent and net NPA rose 75 bps QoQ and 9 bps YoY to 2.89 percent in Q3.
State Bank of India (SBI) beat analysts' expectations on Tuesday with the first quarter net profit rising 10.2 percent year-on-year to Rs 3,692 crore.
Vaibhav Agrawal – vice-president, research banking - Angel Broking is disappointed with the bank‘s asset quality. The increase in gross and net non-performing assets are well above what he was factoring in.
Suruchi Jain of Morningstar is not surprised and says all banks should be subjected to the same rules. Hence, the exemption is 30 percent of the eligible loans for the first year, which is the same for all the banks, the following years it will be taken up to 50 percent and 60 percent of loans.
Cigarette-hotel-to-FMCG major ITC missed street expectations on topline as well as bottomline front in the third quarter.
FMCG major Hindustan Unilever‘s third quarter net profit jumped 17.9 percent year-on-year to Rs 1,252 crore, mainly led by income from land sale.
Suruchi Jain, equity research analyst, Morningstar India says SBI's profit after tax is up 30%, NPA is flat and most slippages on infrastructure book has already happened and hence things should improve from hereon.
IDFC has registered a fall of 13 percent in its consolidated second quarter net profit at Rs 421.4 crore against Rs 486.7 crore, Y-o-Y.
Jignesh Shial of IDBI Capital Markets wants to hear the management commentary on the kind of corporate loan pickup the bank is seeing.
In an interview with CNBC-TV18‘s Nigel D‘Souza and Reema Tendulkar, Naveen Kulkarni, Co-Head-Research, PhillipCapital, termed the revenue growth as “impressive†and said he may revise earnings-per-share estimates for the firm slightly higher.
Experts have given mixed reaction of the State Bank of India earnings. While Vaibhav Agrawal, Angel Broking believes the result was in line with expectations, Suruchi Jain of Morningstar continues to keep high uncertainty rating on the stock.