PremiumBritannia Industries, the FMCG major, will announce its Q1 results today. The company is expected to witness decent earnings growth on the back of healthy demand and moderating input cost inflation. Britannia Industries is expected to post a sharp jump of 56.3% year-on-year (YoY) in its Q1 net profit to ₹525 crore, as per brokerage poll by Livemint. The company’s revenue in Q1FY24 is expected to rise 11.45% YoY to ₹4,125 crore, led by 5% volume growth, as per average estimates. Stay tuned to our Britannia Industries Q1 Results Live blog for latest updates.
Britannia Q1 Results: FMCG Britannia on 4 August released thee results for Q1FY24 and said that firm reported a rise of net profit by 35.7 percent at ₹455.5 crore in the June quarter compared to ₹335.74 crore in the corresponding period of FY23.
The net revenue also rose 8.4 percent to ₹4,010 crore in Q1FY24, compared to 3,700.96 crore in Q1FY23, it said in a stock regulatory filing.
Delhivery on 4 August said that in its quarterly results, it reported a net loss of 89.4 crore in Q1FY24 compared to loss of ₹399.3 crore In the corresponding period of FY23. Apart from this, the revenue rose 10.5 percent at ₹1,929.7 crore vs ₹1,745.7 crore YOY.
Britannia Q1 results: According to HDFC Securities analysts, Britannia is expected to post 10% YoY revenue growth with volume growth of 5% YoY (four-year CAGR at ~7%).
Britannia Q1 results: Another estimate by Yes Securities shows 3% growth in base business volumes in Q1FY24. Along with this, double-digit realisation in standalone business, is expected to lead a consolidated revenue growth of 10% YoY.
Britannia Q1 results: Brokerage firm Motilal Oswal Financial Services expects Britannia Industries to post 7% voume growth during the quarter under review. It also expects the company gross margin and EBITDA margin to improve by 470 bp and 390 bp YoY, respectively.
Britannia Q1 FY24 results: Earnings before interest, taxes, depreciation and amortization (EBITDA) of Britannia Industries is expected to increase by 57% to ₹786 crore. Company's EBITDA margin might expand by around 530 basis points (bps) YoY to 18.8%.
Britannia Q1 results: The revenue of Britannia Industries is expected to increase by 11.45% YoY to ₹4,125 crore. The revenue growth is expected to be led by 5% volume growth, according to the average estimates.
Britannia Industries is expected to post a sharp jump of 56.3% year-on-year (YoY) in its Q1FY24 net profit to ₹525 crore, as per brokerage poll by Livemint
SBI Q1 results were a slight miss (3%) on core profit after tax (PAT) due to lower net interest income (NII), while asset quality largely in-line. PAT beat led by treasury, said Gaurav Jani – Research Analyst, Prabhudas Lilladher Pvt Ltd.
SBI stock trades at ~1.1x on March 2025 Core ABV, he added.
SBI’s slippages in Q1FY24 rose to ₹7,872 crore from ₹3,458 crore, QoQ. Slippages ratio increased to 0.94% from 0.41%, QoQ.
SBI share price fell more than 3% after the announcement of Q1 results today. SBI shares declined as much as 3.14% to hit an intraday low of ₹572.05 apiece on the BSE.
SBI’s Whole Bank Deposits grew at 12% YoY, in Q1FY24, out of which CASA Deposit grew by 5.57% YoY. CASA ratio stands at 42.88% as on June 30, 2023.
SBI’s credit growth at 13.90% YoY with Domestic Advances growing at 15.08% YoY. Foreign Offices’ Advances grew at 7.44% YoY.
Agri and Corporate loans registered YoY growth of 14.84% and 12.38%, respectively.
Domestic Advances growth driven by SME Advances (18.27% YoY) followed by Retail Personal Advances which grew by 16.46% YoY.
The State Bank of India (SBI) has declared its quarterly results for April to June 2023 period. The largest Indian commercial bank declared its quarterly earning for Q1FY24 on Friday noon in which it reported 178.25% YoY rise in net profit to ₹16,884 crore. Read full report here
Domestic Net Interest Margin (NIM) for Q1FY24 increased by 24 bps YoY to 3.47%.
SBI’s gross NPA ratio in Q1FY24 fell by 2 basis points (bps) to 2.76% from 2.78%, while Net NPA ratio rose by 4 bps to 0.71% from 0.67%, QoQ
Gross Non-Performing Assets (GNPA) during the quarter ended June 2023 increased 0.4% to ₹91,327.84 from ₹90,927.78 crore in the March quarter.
Net NPA also rose sequentially by 7.1% to ₹22,995.37 crore from ₹21,466.64 crore, QoQ.
SBI net interest income in the quarter ended June 2023 rose 24.5% to ₹38,904 crore from ₹31,195.9 crore, YoY.
SBI net profit in Q1FY24 zooms 178% to ₹16,884 crore from ₹6,068 crore, YoY.
SBI’s asset quality is seen improving in the quarter ended June 2023. Its Gross Non-Performing Assets (NPA), as a percentage of gross advances, is expected to reduce to 2.7% from 2.8% in the March quarter. Net NPA may ease to 0.6% from 0.7%, QoQ, as per estimates by Motilal Oswal Financial Services.
SBI’s provisions in Q1FY24 is expected to fall to ₹3,200 crore, down 27.1% from ₹4,392 crore, YoY, and down 3.5% from ₹3,315 crore, QoQ.
SBI’s margins are expected to remain stable in Q1FY24, while operating expenses and increase in deposit costs will be key monitorables. Meanwhile, asset quality is likely to improve further supported by low stressed asset pool, said Motilal Oswal Financial Services.
State Bank of India (SBI) had reported a net profit of ₹16,694.5 crore for the quarter ended March 2023, a rise of 83% from ₹9,113.5 crore in the corresponding quarter last year.
SBI’s net interest income (NII) during Q4FY23 increased 29.5% to ₹40,392 crore from ₹31,197 crore. YoY. The bank's domestic net interest margin (NIM) for Q4FY23 increased by 44 bps YoY to 3.84%. Read here
Kotak Institutional Equities expects SBI’s slippages at 1.5% of loans (PSL slippage are high in 1QFY24) to be driven mostly by agriculture. Retail and corporate will continue to hold up relatively well. The first quarter usually tends to have negligible change or marginally higher NPL ratios, given the high slippages, it said.
Kotak Institutional Equities expects SBI’s operating profit to double (lower base as there was a treasury loss).
“We are building a 25% on-year growth in NII on the back of a 15% annual loan growth. We are building NIM to decline 20 bps QoQ but do see a possibility of stable performance, given the structure of loan book and negligible need for deposits to fund this growth," Kotak Institutional Equities said.
SBI’s deposits in the quarter ending June 30, 2023, are likely to be at ₹45.2 lakh crore, witnessing a growth of 11.8% YoY.
Total advances during the quarter are likely to be at ₹32.7 lakh crore with loan growth estimated at 16.2% YoY, as per Motilal Oswal Financial Services.
SBI’s loan growth is expected to be 16.5% YoY at ₹32,79,300 crore during the quarter ended June 2023, according to estimates by brokerage firm Prabhudas Lilladher.
Slippages could see a blip QoQ although provisions could remain stable, it said.
Brokerage firm Motilal Oswal Financial Services expects SBI’s earnings growth to stay strong, supported by healthy treasury gains versus losses last year. It expects credit costs to remain in control, while asset quality to improve further supported by low stressed asset pool and margins to remain stable.
SBI share price opened nearly a percent higher on the BSE ahead of the Q1 results today. SBI shares opened at ₹594.90 apiece on Friday as compared to the Thursday's close of ₹590.60.
SBI’s asset quality for Q1FY24 is expected to improve sequentially. The Gross Non-Performing Assets (GNPA) ratio may fall by 4 basis points (bps) to 2.74% from 2.78%, QoQ.
SBI’s Pre-provision operating profit (PPOP) in Q1FY24 is expected to rise 78% YoY to ₹22,701 crore. However, PPOP is likely to fall 2.1% QoQ.
SBI’s net interest income (NII), which is the difference between interest earned and interest expended, during the quarter ended June 2023 is expected to rise 29.3% year-on-year (YoY) to ₹40,343 crore.
SBI Q1 net profit is expected to more than double, surging 143% year-on-year (YoY), to ₹14,785 crore, as per brokerage poll by Livemint. SBI’s net profit growth in the quarter ended June 2023 is likely to be led by lower base due to treasury loss.
State Bank of India (SBI), the largest state-run lender in the country, will announce its Q1 results today. Stay tuned to our SBI Q1 Results Live blog for latest updates.
Download the App to get 14 days of unlimited access to Mint Premium absolutely free!
