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SBI's June quarter performance sets high expectations for investors

The lender's strong performance and improvement in moratorium offer comfort

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Not only was operational performance better than expected, but moratorium, a crucial asset quality indicator in the current situation, also improved.

Shreepad S Aute Mumbai

3 min read Last Updated : Jul 31 2020 | 11:30 PM IST

State Bank of India’s (SBI’s) June quarter (Q1) numbers, reported on Friday, surprised the Street, pushing its stock up by 2.6 per cent even as the Sensex fell by 0.3 per cent.

Not only was operational performance better than expectations, but moratorium, a crucial asset quality indicator in the current situation, also improved.

In Q1, net interest income, which grew by 16.1 per cent year-on-year (YoY) to Rs 26,642 crore, was way ahead of consensus estimate of Rs 24,062 crore. Profit before tax, up 36.8 per cent YoY to Rs 5,560 crore, too, beat estimates of Rs 4,863 crore by a

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