Saturday, December 3, 2022

HDFC Bank Q4 Result Preview: Profit may increase by 25%, Net Interest Income may increase by more than 10%

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HDFC Bank, the country’s largest private sector lender, is expected to report a 25 per cent year-on-year growth in the quarter ended March 2021, a lower base than the year-ago period. The bank will release quarterly earnings on 17 April.

Loan growth at 13.9 percent YoY was driven by the corporate book, recording a 21 percent YoY increase, and the domestic retail loan book grew 7.5 percent in the March quarter compared to the same period.

Earlier in April, the bank had said that by March 2019 Rs 13,35,000 crore would be deposited, while it had increased by 14.3 percent a year earlier.

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For the quarter ended March 2021, brokerages expect roughly 10–11 percent growth with net interest income.

ICICI Direct said, “NII’s growth rate is seen at 11 per cent YoY to Rs 16,901 crore, and is expected to increase margins to 4.1-4.2 per cent”.

According to the brokerage, asset quality is expected to shift to recognition as recognition is a post standstill for a slight increase in gross NPAs. The broker stated, “Proforma GNPA and restructuring numbers were below 2 per cent. We expect PAT’s growth to remain stable at 3,396 crore due to a lower base in Q4FY20.

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HDFC Bank shares have so far corrected half a percent in the year 2021, but have increased by 62 percent in the last one year.
Pre-provision operating profit (PPoP) is also expected to grow in the range of 15-20 percent in the March quarter YoY.

Moti and Oswal said that the commentary about asset quality and credit card and fee income traction in Agri and Unsecured book is worth looking at.

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