Expect HDFC Q1 net to grow 19% at Rs 1197 cr: KR Choksey
KR Choksey expects HDFC to report a 23.1 percent degrowth quarter-on-quarter (growth of 19.4 percent year-on-year) in net profit at Rs 1197 crore.
July 18, 2013 / 18:04 IST
KR Choksey has come out with its first quarter (April-June) earnings estimates for non-banking financial companies (NBFC) sector. The brokerage house expects HDFC to report a 23.1 percent degrowth quarter-on-quarter (growth of 19.4 percent year-on-year) in net profit at Rs 1197 crore.
Net interest income is expected to decrease by 21.9 percent Q-o-Q (up 16.8 percent Y-o-Y) to Rs 1523 crore, according to KR Choksey.KR Choksey report on HDFCStrong retail loan book growth continue to drive loan book growth 23.9 percent Y-o-Y (including loan sold). Higher dividend income will boost non interest income. Standard provision on teaser loans is likely to reverse due to normalization. Wholesale loans and retail loan mix remain stable at 34 percent and 66 percent respectively. Incremental borrowings mix would in favour of bond market than bank funding. Developer loan look expand slower than retail book, adversely impact blended spreads. Core earnings (excluding trading gians) to grow 18.3 percent Y-o-Y to Rs 1168 crore. 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!
