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Last Updated : Jan 29, 2014 11:14 AM IST | Source: Moneycontrol.com

ICICI Bank Q3 PAT seen up 5% to Rs 2327.7cr: Emkay

The net interest income of the company is expected to rise by 3 percent Q-o-Q (up 19 percent Y-o-Y) to Rs 4171.3 crore, according to Emkay Global Financial Services.

 
 
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Emkay Global Financial Services has come out with its October-December quarter earnings estimates for the banking space. The brokerage house expects ICICI Bank to report a 1 percent rise quarter-on-quarter (up 5 percent Y-o-Y) in net profit at Rs 2327.7 crore.


The net interest income of the company is expected to rise by 3 percent Q-o-Q (up 19 percent Y-o-Y) to Rs 4171.3 crore, according to Emkay Global Financial Services.


Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to go up by 3 percent Q-o-Q (up 16 percent Y-o-Y) to Rs 4004.7 crore.

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Emkay Global Financial Services on ICICI Bank:


Expect 19 percent yoy growth in NII led by 15 percent growth in loan portfolio and flat margins to 2.9 percent.


With modest fee income growth and lower treasury gains, growth in operating profit is expected to be lower at 16 percent yoy.


We are factoring in slippages at Rs 11bn, fresh restructuring at Rs 10bn and an overall credit cost at 80bp for the quarter. Resultant, net profit at Rs 24bn would grow by modest 5.4 percent yoy.


Key thing to watch: Restructured portfolio and growth.

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.



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First Published on Jan 29, 2014 11:14 am
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