SBI's Q1 Financial Results Show Positive Performance, Stock Call 'Hold' by MarketsMOJO

State Bank of India, one of the largest public banks in India, has recently declared its financial results for the quarter ending June 2024. According to the latest report, the stock call for SBI by MarketsMOJO is 'Hold'.

The bank has shown a positive financial performance in the quarter, with a score of 10 out of 14, which is a slight decrease from the previous quarter. However, there are several factors that are working in favor of SBI based on its financials for the quarter.

One of the key highlights is the bank's Gross NPA (Non-Performing Assets) which has consistently decreased in the last five quarters, currently standing at 0.00%. This indicates that the proportion of stressed loans given by the bank is also decreasing. Additionally, SBI has seen a growth in its Interest Earned, with the highest amount of Rs 111,525.98 crore in the last five quarters. This shows a positive trend in the bank's sales.

Another positive aspect is the company's Dividend per Share (DPS), which has been consistently increasing in the last five years, with the highest amount of Rs 13.70. This indicates that SBI is distributing higher dividends from its profits.

In terms of operating profit, SBI has shown a positive trend in the last five quarters, with the highest amount of Rs 15,286.71 crore. Similarly, the Profit Before Tax (PBT) has also shown a positive trend, with the highest amount of Rs 11,837.29 crore in the last five quarters.

However, there are some areas that need improvement for SBI. The Non-Operating Income for the quarter is 48.53% of the PBT, which indicates that the company's income from non-business activities is high. This may not be a sustainable business model in the long run.

Overall, the financial results for the quarter ending June 2024 show a positive performance for State Bank of India. Investors are advised to hold their stocks, as suggested by MarketsMOJO.