17 Jul 2023 , 06:28 AM
Result date: 17th July, 2023
Recommendation: Buy
Target price: Rs. 1,960
(Source: IIFL Research)
HDFC Bank could post 25.30% growth in Net Interest Income (NII) as compared to the year-ago quarter. This will be driven by healthy growth across retail, corporate and commercial loans.
The Bank’s Net Interest Margin (NIM) could come in at 4% and stay largely stable amid greater focus on deposit accretion.
Asset quality and credit costs of the bank are expected to remain stable, which in turn, will aid its overall profitability. The Bank’s agricultural loan book though may report higher slippages.
Its Profit After Tax (PAT) could grow 19.8% as compared to the year-ago quarter.
Important management insights to watch out for:
Rs. Million |
June 2023 estimates |
YoY change |
QoQ change |
NII |
244,081 |
25.30% |
4.52% |
PPOP |
185,798 |
20.90% |
(0.22)% |
Profit After Tax (Rs. mn) |
110,177 |
19.80% |
(8.54)% |
Source: Brokerage Reports
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