Q3 Overview: SBI, ITC, Indigo Snippets

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Q3 Overview: SBI, ITC, Indigo Snippets
Credit: © Reuters.

By Malvika Gurung

Investing.com -- State Bank of India (NS: SBI )

India’s largest public sector lender posted its highest-ever quarterly net profit in Q3 FY23, jumping 68.5% YoY to Rs 14,205 crore and exceeding the Street’s estimates, led by a rise in core income and a fall in provisions against bad loans.

Its NII grew by 24% YoY to Rs 38,068 crore, NIM by 29 bps to 3.69%, while gross NPA fell sharply to 3.14% and net NPA declined to 0.77% in Q3. Its provisions against bad loans nearly halved to Rs 1,586.47 crore.

Read More: SBI Posts Best Quarterly Profit in Q3, Provisions Dip, Asset Health Improves


The cigarettes-to-hotels conglomerate’s net profit rose 21% YoY in Q3 FY23 to Rs 5,031 crore and revenue from operations climbed 2.3% to Rs 16,226 crore. Its EBITDA surged 25% to Rs 5,183.5 crore and the operating margin rallied 574 bps to 31.95% due to price hikes and an improved mix.

The company announced an interim dividend of 6/share for FY23.

Read More: ITC Announces Interim Dividend for FY23: Amount, Record, Payment Dates?

IndiGo (NS: INGL )

India’s largest airline company’s net profit skyrocketed by 1,002.3% YoY in the December quarter majorly due to a spurt in growth after the pandemic period and the low base of the previous year.

Its revenue from operations surged 61% YoY to Rs 14,932 crore, while the passenger ticket revenues jumped 63% YoY to Rs 13,162 crore in the quarter.

Read More: IndiGo’s Blockbuster Q3: Profit Skyrockets 1,002%, Topline Jumps 61%

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