NII seen at Rs4,567 crore, PAT at Rs3,309 crore

Result date: 2nd May, 2022

HDFC is likely to post a mixed set of numbers for the March 2022 quarter. While year-on-year performance is expected to be better, sequentially the company could perform better. HDFC’s assets under management (AUM) could grow 4% on a sequential basis. Continued traction in disbursements to individual as well as non-individual segments will drive the company’s topline.

Its margins though could contract amid moderating yields, aided by lower home loan rates and excess liquidity carry.

HDFC’s Profit After Tax (PAT) could grow 4.05% over the year-ago quarter and 1.50% sequentially.

Important management insights to watch out for:
Asset quality trends, particularly in the corporate loan book
· Updates on merger with HDFC Bank

Rs Crore

March 2022 estimates

QoQ change

YoY change
Net Interest Income (NII) 4,567 5.45% 7.05%
Pre-Provisioning Operating Profit 4,490 1.10% (3.30)%
Profit After Tax (PAT) 3,309 1.50% 4.05%

Source: Brokerage reports

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