Emkay Equity Advisory 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 19 percent degrowth quarter-on-quarter (growth of 21 percent year-on-year) in net profit at Rs 1195.9 crore.
Net interest income is expected to decrease by 19 percent Q-o-Q (up 23 percent Y-o-Y) to Rs 1543.4 crore, according to Emkay Equity Advisory. Emkay Equity Advisory report on HDFC NII to grow by 23percent Y-o-Y on back of near 20 percent Y-o-Y growth in loans/disbursements. Loan growth continues to be titled towards individual loans. Recent easing in borrowing costs will help offset modest growth in credit to CRE segment, thereby ensuring steady spreads. While gains on principal investment are expected to come in lower, dividend income will aid the overall non-interest income. Resultant, reported PAT at Rs12bn is expected to grow by 19 percent Y-o-Y. Key things to watch: Growth in developer portfolio and NPA management.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!
