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 / 18:21 IST
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 BankAndhra 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. 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!
