SBI Q1 review: Analysts cut earnings estimate to factor MTM loss, weak NIM

SBI Q1: The country's biggest state-owned lender reported a net profit of around Rs 6,070 crore (down 7 per cent year-on-year) with the miss being driven by 13 bps sequential decline in NIM

SBI Q1 review: The April-June quarter of fiscal 2022-23 (Q1FY23) earnings of State Bank of India (SBI) has left analysts unimpressed. Most brokerages have either maintained or cut their earnings’ forecast for fiscal 2023 (FY23) and fiscal 2024 (FY24), citing a miss on net interest margin (NIM) in the quarter gone by, lowest net interest income (NII) growth in Q1 among top five banks, and likely capital requirement in the medium-term.

"We are cutting the FY23E earnings per share (EPS) by 1 per cent. The cut in operating profit is higher at 10 per cent, but we are also