Andhra Bank Q1 net seen down 1% at Rs 358 cr: KR Choksey
KR Choksey expects Andhra Bank to report a 4 percent growth quarter-on-quarter (degrowth of 1 percent year-on-year) in net profit at Rs 358 crore.
July 30, 2013 / 18:11 IST
KR Choksey has come out with its first quarter (April-June) earnings estimates for the banking sector. The brokerage house expects Andhra Bank to report a 4 percent growth quarter-on-quarter (degrowth of 1 percent year-on-year) in net profit at Rs 358 crore.
Net interest income is expected to increase by 6 percent Q-o-Q (up 8 percent Y-o-Y) to Rs 1,015 crore, according to KR Choksey.KR Choksey on Andhra BankWe expect net interest margins to improve Q-o-Q on the back of fall in deposit cost and lower interest reversal on incremental slippages. Core fee income to remain subdued owing to slower loan book growth and non-fund Biz.Trading gains is likely to be strong on the back of decline in bond yields.We expect fresh addition to NPA would in the range of Rs 500-550 crore, lower to Q4FY13 number(Rs 888 crore). Incrementally restructuring to decline to Rs 700 crore against Rs.1136 crore in Q4FY13. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
