ICICIdirect.com has come out with its July-September quarter earnings estimates for the banking sector. The brokerage house expects HDFC Bank to report a 7.4 percent growth quarter-on-quarter (growth of 21 percent year-on-year) in net profit at Rs 2398 crore.
Net interest income is expected to increase by 1.2 percent Q-o-Q (up 16.9 percent Y-o-Y) to Rs 5233.4 crore, according to ICICIdirect.com.
ICICIdirect.com of HDFC Bank:
Strong credit growth at 18.9 percent Y-o-Y to Rs 319287 crore, higher than industry as growth expected to be largely retail. NII growth of 15 percent Y-o-Y and 1.2 percent Q-o-Q to ensure NIM maintained at 4.4 percent We continue to factor in higher provisions as seen in Q1FY15 at Rs 425 crore, leading to profit growth at 21 percent Y-o-Y to Rs 2398 crore.
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