HINDPETRO Q3 RESULT HIGHLIGHTS
Q3 Net Profit ₹23.5B Vs ₹7.47B(YoY), Estimated 19B
Q3 Gross Sale of Product at ₹771.1B Vs ₹742.88B
Q3 Ebitda ₹33B Vs ₹20B(YoY)
Ebitda Margin 4.26% Vs 2.7%(YoY)
Average GRM During 9-month ended Dec 31 $2.35/BBL Vs $1.85/BBL (YoY)
Impact on Hindpetro
Immediate support is 210 levels. Above 240 the stock price is likely to move for 260-280, below 210 levels price may be correct for 190 levels.
SBIN Q3 Results Update
Net profit slips 7% YoY to Rs 5,169 cr on higher provisions
*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.
*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.
*Operating profit of Rs 17,333.16 crore for the third quarter of this fiscal, as against Rs 18,222.56 crore in Q3FY20, translating to a 4.8 percent decline.
“Excluding the one-off interest income and other income during Q3FY20, the YoY growth in net profit and operating profit for Q3FY21 would be 133.78 percent and 26.23 percent, respectively,” the bank said in a statement.
*Net interest income – or income derived by subtracting interest paid on loans from interest received on deposits – was up 3.7 percent YoY at Rs 28,820 crore during the quarter under study, as against Rs 27,778.8 crore in Q3FY20. It increased 2 percent QoQ from Rs 28,181.5 crore reported in Q2FY21.
The domestic net interest margin (NIM) for the quarter remained stable sequentially at 3.34 percent.
*Total gross advances increased 6.7 percent on year to Rs 24.56 trillion, relative to Rs 23.01 trillion. Sequentially, the loan book grew 3 percent from Rs 23.83 trillion.
*Deposits jumped 13.6 percent YoY to Rs 35.35 trillion
*Gross non-performing assets (GNPA) declined 7 per cent quarterly to Rs 1.17 trillion during the quarter under review, compared with Rs 1.26 trillion in the September quarter.
NNPA, on the other hand, stood at Rs 29,031.72 crore, down 20.3 percent QoQ from Rs 36,450.69 crore QoQ. NNPA ratio was at 1.23 percent.
*Total provisions for the quarter were Rs 10,342.39 crore, of which provisions for NPA were Rs 2,290.38 crore. In the year-ago period, total provisions were at Rs 7,252.9 crore, of which Rs 8,193.06 crore were earmarked for NPAs. At the end of Q3FY21, the bank held a total of Covid-19 related provisions worth Rs 12,976 crore.
*Provision Coverage Ratio (PCR) has improved to 90.21 percent, up 848 bps YoY and 202 bps QoQ.
*Fresh slippages during the quarter came in at Rs 237 crore, plunging 98.5 percent YoY and 91.4 percent QoQ from Rs 16,525 crore, and Rs 2,756 crore, respectively.
Impact on SBIN
Immediate support 320, Resistance 353, Every low is buying opportunity for a target of 353-380.
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