SBI Q3 result: Net profit slips 7% YoY

Published On: Thursday, February 4, 2021 | By: Team KnowMyStock

State Bank of India (SBI) today(4th Feb 2021) reported a 6.9 percent year-on-year (YoY) drop in standalone net profit at Rs 5,196.22 crore for the quarter ending December 2020 (Q3FY21). The fall was largely driven by a marginal increase in provisions against bad loans. In the year-ago period, the lender had clocked a net profit of Rs 5,583.4 crore. On a quarterly basis, the PAT grew 13.6 percent from Rs 4,574.2 crore reported in the September quarter of FY21 (Q2FY21). The bottom-line earnings beat Street estimates which had factored-in an up to 58 percent YoY drop in PAT. The lowest PAT estimate was by HDFC Securities, at Rs 2,360 crore. SBI's profit before tax (PBT) came in at Rs 6,990.77 crore the quarter, down 36.2 percent YoY from Rs 10,969.66 crore reported in the corresponding quarter of the previous fiscal. On a quarterly basis, PBT climbed 10.2 percent from Rs 6,341.45 crore clocked in Q2FY21.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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