Nirmal Bang has come out with its first quarter (April - June’ 24) earnings estimates for the Banking sector. The brokerage house expects HDFC Bank to report net profit at Rs. 11,427.2 crore up 24.3% year-on-year (down 5.1% quarter-on-quarter).
Net Interest Income (NII) is expected to increase by 21.6 percent Y-o-Y (up 1.4 percent Q-o-Q) to Rs. 23,689.8 crore, according to Nirmal Bang.
Pre Provision Operating Profit (PPOP) is likely to rise by 17% Y-o-Y (down 3.4 percent Q-o-Q) to Rs. 17,986.2 crore.
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