Thread by @Sanju_Verma_

German GDP down 10% in June qtr

France down 14%

Singapore minus 41%

#USGDP minus 32.9%,as per advance estimates

#COVID has inflicted universal damage--fall in India will be relatively lower&cushioned by good agri growth

Even when March qtr GDP grew 3.1%,#AgriGrowth was 5.9%

Besides Farm sector,thx to Banking clean-up,by @narendramodi govt, #Banks are doing well too

#SBI reported 81% jump in net profit at Rs 4189Cr

Yes,there was one time gain of 1540Cr--But even without this,profit grew by 15%& #NII by 19%

#GrossNPAs fell from 6.15% to 5.44% QoQ💪

#NetNPAs of #SBI fell from 2.23%,to 1.88%,in June2020 qtr

Improvement in #AssetQuality of SBI is good news&this,despite providing for #COVID19India related losses

SBI made Covid related provisions worth 1836Cr inJune qtr

Total provisions against Covid related losses are 3008Cr

SBI is not any other Bank but accounts for 20%+ of India's Banking loan book

In June qtr,SBI recorded fresh slippages of only 3637Cr,Vs 8105Cr of slippages in March2020 qtr

In March2019 qtr,slippages were a high 16212Cr

Steep fall in #Slippages is proof of bad loans falling💪

Recoveries&upgrades in June qtr for #SBI,4056Cr

Surge in recoveries for many Banks, in last 6 months,leading to lower NPAs,is thx to #IBC,among other things

Despite 42000Cr of loans classified as #SpecialMentionAccounts&9.5% of loan book as #Moratorium,SBI posted great results

While overall growth in advances for #SBI was 6.58%,retail book grew by a good 12.85%

With #ECLGS now extended to individuals,@narendramodi govt has taken a bold move,to boost #Creditgrowth

ECLGS to #MSMEs has been a big success,with over 1.14 lakhCr loans sanctioned

#economy

Demand destruction globally&soft #Crude prices,led to lower refining &petchem margins,leading to 11.8% fall in #Ebitda,for #Reliance

Consolidated PAT rise of 30.6%,was led by one time gain of 4966Cr

Like March qtr,big positives in June qtr too,were #Jio& #RelianceRetail numbers

While RIL's Core business faced headwinds,#Jio reported stellar numbers with 182.82% rise in Profit

Ebitda was up a solid 55.4%
Revenues up a good 33.7%

Jio's #Arpu though,was only 140.30, Vs nearest rival #BhartiAirtel's at 157

#EconomyOnTrack despite #Covid_19 related stress

While Revenues for retail operations were down 17.2%& Ebitda down 47.4%,this was a tough quarter, given the #lockdown

Fact that #RIL was still able to have a positive Ebitda,thx to cost reductions&better price realisations, is in itself,a good sign

Decent results,overall by RIL

While Revenues for retail operations were down 17.2%& Ebitda down 47.4%,this was a tough quarter, given the #lockdown

Fact that #RIL was still able to have a positive Ebitda,thx to cost reductions&better price realisations, is in itself,a good sign

Decent results,overall by RIL

Results by #SBI& #Reliance indicate that despite pockets of stress &demand impairment due to #Covid_19,underlying economic momentum is picking up

India's #ManufacturingPMI is 47.2 in June2020,Vs 30.8 in May&24.7 in April 2020,indicating firm trends in private investment spending

New Orders' component of #PMI rose from 21.4 in May,to 46.4 in June20💪

Employment component rose from 42.7 in May,to 44.2 in June

With partial #Unlock&resumption of economic activity,#Unemployment rate fell to 7.26% in June,after peaking at 29.22% in May 2020

#EconomyOnTrack

Ofcourse,without doubt,economic recovery,being led by #Rural sector, thx to record #Procurement& #MNREGS

Take M&M for example-while Auto sales fell 36% YoY in July 2020&CV sales by 18%,#TractorSales in July rose by solid 27% YoY

Btw,M&M derives over 40% sales from rural areas