"The Economic Times" said : HDFC Bank Q4 results: HDFC Bank to report 15% profit growth in Q4 earnings; here’s what to watch out for
Pre-provision operating profit is likely jump from Rs 5,734 crore to Rs 6,623 crore."The bank's loan growth is likely to be lower than historical trend. Private lender HDFC Bank is likely to report over 15 per cent growth in net profit and operating profit before provisions and contingencies with stable asset quality in March quarter earnings on Friday.Brokerage Edelweiss Securities believes HDFC Bank may report 15.30 per cent year-on-year (YoY) rise in net profit at Rs 3889.40 crore in Q4FY17 compared with Rs 3,374.20 crore reported for the same quarter last year. Core revenue momentum will be softer and below trend and asset quality trends continue to remain benign," Edelweiss said in a research report.G Chokkalingam, Founder of Equinomics Research and Advisory, said: "HDFC Bank may report 17-18 per cent year-on-year (YoY) growth in bottom line with stable asset quality."Since the beginning of this calendar year, the share price of HDFC Bank has climbed nearly 21 per cent till April 19, 2017, whereas the benchmark BSE Sensex has gained 10 per cent.The stock has risen from Rs 1197.30 on January 2, 2017 to Rs 1,447.05 on April 19, 2017.For the previous quarter ended December 31, 2016, HDFC Bank reported 15.15 per cent year-on-year rise in net profit at Rs 3,865.33 crore against Rs 3,356.84 crore in the same quarter a year ago.
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Non-interest income, operating profit and better-than-expected net interest income boosted earnings but sharp spike in provisions limited growth. Profit was expected at Rs 3,966.6 crore and net interest income at Rs 8,684.4 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18. Net interest income, the difference between interest earned and interest expended, increased higher-than-expected 21.5 percent to Rs 9,055 crore compared with Rs 7,453.3 crore reported in corresponding quarter of last fiscal. Other income or non-interest income during the quarter grew by 20.2 percent year-on-year to Rs 3,446.3 crore and operating profit jumped 27 percent to Rs 7,279.4 crore, HDFC Bank said in its filing. Moneycontrol NewsHDFC Bank, the country's second largest private sector lender, has reported stable set of quarterly earnings on Friday as profit grew by 18.2 percent year-on-year to Rs 3,990 crore in the quarter ended March 2017.
Due in part to an increase in its lending, Summit Bank of Eugene on Thursday reported a healthy rise in first-quarter profits compared to the same year-ago period. The bank said it had a net profit of $762,000, or 20 cents per share, in the quarter ending March 30, compared to $580,000, or 16 cents a share, in the first quarter of last year. Non-interest income in the quarter increased from $156,000 last year to $391,000 this year, the bank said. Summit Bank's stock is quoted on the NASDAQ Over-The-Counter Bulletin Board under the symbol SBKO. The bank was scheduled to have its annual shareholder meeting at 5 p.m. Thursday at the Downtown Athletic Club.
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HDFC Bank Q4 profit rises 18% but provisions limit growth; NII beats estimates
Non-interest income, operating profit and better-than-expected net interest income boosted earnings but sharp spike in provisions limited growth. Profit was expected at Rs 3,966.6 crore and net interest income at Rs 8,684.4 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18. Net interest income, the difference between interest earned and interest expended, increased higher-than-expected 21.5 percent to Rs 9,055 crore compared with Rs 7,453.3 crore reported in corresponding quarter of last fiscal. Other income or non-interest income during the quarter grew by 20.2 percent year-on-year to Rs 3,446.3 crore and operating profit jumped 27 percent to Rs 7,279.4 crore, HDFC Bank said in its filing. Moneycontrol NewsHDFC Bank, the country's second largest private sector lender, has reported stable set of quarterly earnings on Friday as profit grew by 18.2 percent year-on-year to Rs 3,990 crore in the quarter ended March 2017.
Due in part to an increase in its lending, Summit Bank of Eugene on Thursday reported a healthy rise in first-quarter profits compared to the same year-ago period. The bank said it had a net profit of $762,000, or 20 cents per share, in the quarter ending March 30, compared to $580,000, or 16 cents a share, in the first quarter of last year. Non-interest income in the quarter increased from $156,000 last year to $391,000 this year, the bank said. Summit Bank's stock is quoted on the NASDAQ Over-The-Counter Bulletin Board under the symbol SBKO. The bank was scheduled to have its annual shareholder meeting at 5 p.m. Thursday at the Downtown Athletic Club.
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