BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
PNB Housing Finance Ltd. reported Q4 FY21 profit after tax of Rs 1.3 billion (versus net loss of Rs 2.4 billion year-on-year; 54% miss).
The miss was attributable to higher-than expected credit costs/operating expenses of Rs 3.5 billion/Rs 1.4 billion (73%/38% above our estimate).
FY21 pre-provision operating profit was largely flat, while profit after tax was up 44% YoY to Rs 9.3 billion.
We upgrade our earnings per share estimates for FY22E on account of lower credit costs – as we believe the bulk of the provisioning has already been upfronted.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR