KR Choksey has come out with its second quarter (July-September) earnings estimates for the financial sector. The brokerage house expects HDFC to report a 8.8 percent growth quarter-on-quarter (up 10.9 percent year-on-year) in net profit at Rs 1,277 crore.
Net-interest income is expected to increase by 7.8 percent Q-o-Q (up 18.3 percent Y-o-Y) to Rs 1,639 crore, according to KR Choksey.
KR Choksey's Report on HDFC:
Strong retail loan book growth continue to drive loan book growth 24.8 percent Y-o-Y (including loan sold). Higher dividend income will boost non interest income.
Wholesale loans and retail loan mix remain stable at 34 percent and 66 percent respectively. Incremental borrowings mix would in favour of bank borrowings than bond market funding. Developer loan look expand slower than retail book, adversely impact blended spreads. Core earnings (excluding trading gians) to grow 17.6 percent Y-o-Y to Rs 1,272 crore.
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!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
