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Business News/ Companies / Company Results/  SBI Q3 results 2024: Market estimates better set of numbers on lower slippages
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SBI Q3 results 2024: Market estimates better set of numbers on lower slippages

SBI Q3 results 2024: Analysts expect a good set of numbers, with mid-teen-digit growth in absolute profitability and significant growth in other income

SBI Q3 results 2024: State Bank of India is set to declare its Q3 results today, with a conference call scheduled for later at 5:00 PM on the same day (Photo: Mint)Premium
SBI Q3 results 2024: State Bank of India is set to declare its Q3 results today, with a conference call scheduled for later at 5:00 PM on the same day (Photo: Mint)

SBI Q3 results 2024 preview: India's banking major State Bank of India is going to declare its Q3 results today. In an exchange communication with the Indian exchanges, SBI said that its board of directors would consider and approve unaudited financial results in its meeting scheduled on 3rd February 2024. Post-declaration of the SBI Q3 results 2024, a conference call will be conducted at 5:00 PM on Saturday.

SBI Q3 results 2024 date

Informing Indian stock market's exchanges about the board meeting date and its agenda, the SBI said, "In compliance with Regulation 29 (1) (a) and other applicable provisions of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we inform that a meeting of the Central Board of the Bank will be held on Saturday, 3rd February 2024 at Mumbai, to consider the financial results of the Bank for the quarter and nine months ended 31st December 2023."

Also Read: Tata Motors Q3 Results: Net profit up 137% to 7,025 crore; 5 key highlights

"Further, we inform that in terms of Regulation 30 (6) read with item no.15 of Para A of Part A of Schedule III to the SEBI (LODR) Regulations, 2015, an Analyst Meet will be conducted on 3rd February 2024 at 5.00 PM post Q3FY24 financial results at State Bank Bhavan Auditorium," SBI added.

SBI Q3 results 2024 expectations

On SBI Q3 results expectations, Shreyansh Shah, Research Analyst at StoxBox said, "We expect the banking elephant SBI to come out with a good set of numbers in Q3FY24. Though some marginal decline in NIMs is expected from the PSB due to the ongoing high cost of funds, we anticipate the bank's absolute profitability to witness mid-teen-digit growth in the current quarter on account of high disbursals of advances backed by elevated infra spends. Furthermore, the bank has a large share in the salary account, and the CASA and the CD ratio would not show signs of concern. The highlight of this quarter’s numbers would be seen in the significant growth in its other income backed by the bank’s focus on optimizing its vast branch network of 22,405 for cross-selling opportunities."

Also Read: JSW Infra’s profit more than doubles to 251 cr in Oct-Dec

Expecting SBI to beat challenges posed by the rising cost of funding, Sandeep Pandey, Founder & Director at Basav Capital said, "Due to the Government of India's focus on infrastructure and rising government expenditure in the segment, the corporate lending business of the Indian banking major is expected to enable SBI to maintain the profitability in Q3FY24."

The former Deputy Vice President of the HDFC Bank went on to add that a rise in business volume is expected to lend support to the largest public sector bank of India in meeting the challenges on the CASA front in the post-high interest rate regime.

"With lower slippages seen in FY24 to date, we anticipate the momentum to continue with credit cost continuing to be below the targeted 1% mark and expect RoAs to improve going forward. The only factor that may act as a spoilsport would be the bank’s expected higher provisions due to wage revision," said Shreyansh Shah of StoxBox.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Asit Manohar
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Published: 03 Feb 2024, 08:10 AM IST
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