SBI Q3 preview: Core operating profit could see a sharp 26% YoY drop in the third quarter, according to Nomura, with key monitorables to be comments on unsecured loan growth, capital adequacy and loan book traction.
Nearly 50 companies, including Archean Chemical Industries, Affle, Balu Forge, Clean Science and Technology, Gujarat Alkalies & Chemicals, and Krishna Institute of Medical Sciences (KIMS), will announce their December quarter earnings. The market is particularly interested in the results of PSU lender State Bank of India (SBI).
SBI's gross non-performing asset (NPA) stood at 2.42%, down from 3.14% recorded in the corresponding quarter last year. Its net NPA for this quarter stood at 0.64 percent compared to 0.77 percent last year.
SBI has guided for a shortfall of Rs 10,000 crore towards the new wage agreement, which will be spread over two quarters of H2FY24. In the second quarter, SBI had a one-off wage provision of Rs 3400 crore.
In the first nine months of FY24, the bank s profit stood at ₹40,378 crore, marking a 20.40% increase compared to the same period in the previous fiscal year, which reported ₹33,538 crore.