Federal Bank Q2 net may fall 14% at Rs 185 cr: ICICIdirect
According to ICICIdirect.com, Federal Bank to report a 75.5 percent growth quarter-on-quarter (degrowth of 13.9 percent year-on-year) in net profit at Rs 185.2 crore.
October 19, 2013 / 11:00 IST
ICICIdirect.com has come out with its second quarter (July-September) earnings estimates for the banking sector. The brokerage house expects Federal Bank to report a 75.5 percent growth quarter-on-quarter (degrowth of 13.9 percent year-on-year) in net profit at Rs 185.2 crore.
Net-interest income of Federal Bank is expected to decrease by 3.6 percent Q-o-Q (down 2.9 percent Y-o-Y) to Rs 491 crore, according to ICICIdirect.com.ICICIdirect.com's Report on Federal Bank:Post last quarter, steep rise in provisions, we expect lower provision and flat NII to boost profit. MTM provisions seen marginal. Credit and deposit growth to be subdued at 14 percent Y-o-Y and 13.9 percent Y-o-Y, respectively. Asset quality expected to see 5 percent addition to GNPA.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 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!
