October 21, 2016 / 12:23 IST
Centrum has come out with its second quarter (July-September) earnings estimates for the Financials sector. The brokerage house expects
Sundaram Finance to report net profit at Rs 111.9 crore, up 24.1 percent quarter-on-quarter.
Net Interest Income is expected to increase by 13.7 percent Q-o-Q (up 8.6 percent Y-o-Y) to Rs 303.4 crore, according to Centrum.
Centrum's report on Sundaram Finance
We expect Sundaram Finance to report 14.1% YoY growth in disbursements / 15.8% YoY growth in AuM for Q2’17. However, led by pricing pressure and higher proportion of growth from low yielding CV portfolio, we expect NII to grow mere 9% yoy. SUF has witnessed some pick-up in tractor and CE portfolio. Trends therein will be watched carefully.
Q2’16 saw profit on sale of stake in BNP Paribas. Operating profit at Rs1.8bn thus is expected to decline 25% YoY. Adjusted for the gains, operating profit would decline 10% YoY.
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