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HDFC Bank‘s quarterly net profit grew 25 percent year-on-year to Rs 2,326 crore from Rs 1,859 crore while net interest income rose 22 percent to Rs 4,635 crore from Rs 3,799 crore during the same period.
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HDFC Bank reported an in line set of numbers and a recovery from Q2 – Ekta finds out more.
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Net interest income (growth of 15 percent in Q2, the lowest in last seven quarters), net interest margin and loan growth are expected to bounce back in the third quarter.
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According to Dolat Capital, net interest income of HDFC Bank is expected to increase by 6.7 percent Q-o-Q (up 20 percent Y-o-Y) to Rs 4778 crore.
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According to ICICIdirect.com, net interest income of HDFC Bank is expected to increase by 1.9 percent Q-o-Q (up 14.6 percent Y-o-Y) to Rs 4563.6 crore.
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According to Motilal Oswal, net interest income of HDFC Bank are expected to increase by 4.7 percent Q-o-Q (up 17.8 percent Y-o-Y) to Rs 4689.2 crore.
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The bank‘s restructured assets in Q2 stood at Rs 1,031 crore against Rs 690 crore in the first quarter and the slippages were at Rs 618 crore in Q2 against Rs 680 crore in Q1.
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On asset quality front alone, small or midcap PSU banks would witness a slightly better quarter, Vishal Goyal, ED, Banks & Fin Research, UBS said.
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Experts have given mixed reaction of the State Bank of India earnings. While Vaibhav Agrawal, Angel Broking believes the result was in line with expectations, Suruchi Jain of Morningstar continues to keep high uncertainty rating on the stock.
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Top pecking order in the private banking space for Religare Capital Markets is HDFC Bank, followed by Yes Bank, IndusInd Bank and then ICICI Bank over Axis Bank, says Siddharth Teli.
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Angel Broking is very positive on Axis Bank after it posted a better-than-expected results for the quarter ended in September.
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CNBC-TV18 poll had estimated net profit at Rs 1,963 crore and net interest income at Rs 4,576 crore for the quarter.
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Analysts expect loan growth between 18-20 percent while deposit growth is expected to be in line with loan growth.
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Siddharth Teli of Religare Capital Markets says the numers posted by IndusInd Bank were fairly good both on asset quality front as well as margins.
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According to Kotak Securities, HDFC Bank to report a 8.4 percent growth quarter-on-quarter (growth of 28.2 percent year-on-year) in net profit at Rs 1,999.3 crore.
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According to Prabhudas Lilladher, HDFC Bank may report a 5.1 percent growth quarter-on-quarter (growth of 24.2 percent year-on-year) in net profit at Rs 1,938.2 crore.
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According to KR Choksey, HDFC Bank to report a 10 percent growth quarter-on-quarter (growth of 29 percent year-on-year) in net profit at Rs 2,020 crore.
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According to Motilal Oswal, HDFC Bank to report a 8 percent growth quarter-on-quarter (growth of 27.7 percent year-on-year) in net profit at Rs 1,991.5 crore.
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According to a CNBC-TV18 poll, net interest income (NII) of the country's second largest private sector lender may surge 23 percent year-on-year to Rs 4,576 crore in the second quarter.
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A spurt of loan defaults and lower net interest income in the three months that ended June triggered the second consecutive drop in quarterly profit for SBI, sending its shares to their lowest since December 2011
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Private sector lender HDFC Bank's first quarter (April – June) earnings did not reflect any significant inconsistency in its growth numbers. However, the bank shares dropped 3 percent immediately after the result announcement on Wednesday. They closed the day at Rs 663, down more than 2 percent.
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HDFC Bank saw an increment in bad loans in the first quarter because of which the stock got hammered down. However, most experts continue to call the stock a safe bet among the private sector banks.
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Motilal Oswal expects HDFC Bank to report a 1.5 percent degrowth quarter-on-quarter (growth of 31.3 percent year-on-year) in net profit at Rs 1861.6 crore.
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Dolat Capital expects HDFC Bank to report a 4 percent degrowth quarter-on-quarter (growth of 28 percent year-on-year) in net profit at Rs 1815.6 crore.
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India‘s second largest private sector lender HDFC Bank is unlikely to spring any ugly surprise in its first quarter (April – June) earnings. Its net profit is expected to grow 30 percent year-on-year to Rs 1,890 crore, according to an average poll estimate by CNBC TV18.
