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Andhra Bank Q1 PAT seen down 11% at Rs 323 cr: Emkay

Emkay Equity Advisory expects Andhra Bank to report a 6.3 percent degrowth quarter-on-quarter (degrowth of 10.7 percent year-on-year) in net profit at Rs 323.1 crore.

July 30, 2013 / 06:21 PM IST
 
 
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Emkay Equity Advisory has come out with its first quarter (April-June) earnings estimates for the banking sector. The brokerage house expects Andhra Bank to report a 6.3 percent degrowth quarter-on-quarter (degrowth of 10.7 percent year-on-year) in net profit at Rs 323.1 crore.


Net interest income is expected to increase by 1.9 percent Q-o-Q (up 3.5 percent Y-o-Y) to Rs 971.7 crore, according to Emkay Equity Advisory.


Emkay Equity Advisory on Andhra Bank


Andhra Bank is expected to report modest 4 percent Y-o-Y growth in NII led by 13 percent Y-o-Y growth in loan portfolio.


Margins are expected to contract 6bps Q-o-Q on account of 4bps Q-o-Q decline in yield on assets and 140bps Q-o-Q contraction in LDR to 78 percent.

With higher operating costs and higher provisioning requirement, net profit is expected to decline by 11 percent Y-o-Y. Factoring in gross slippages at Rs6bn and credit cost at +100bps annualized.

first published: Jul 30, 2013 06:21 pm

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