HDFC Q4 Review - Growth Momentum Continues; Outlook Optimistic: ICICI Direct

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..ICICI Direct Report.Housing Development Finance Corporation Ltd. posted good set of numbers with net interest income rising by 12.6% YoY and 4.5% QoQ on the back of improving loan trajectory and steady margins. Net interest margins were stable at 3.5% YoY but down 10 basis points sequentially. Other income was up 59% QoQ to Rs 1169 crore, mainly due to income earned on assignment of loans.With increase in business activity, opex increased 7.6% QoQ but growth on YoY front was modest at 3.1%, thus cost/income ratio due to faster income growth than cost was down 40 bps to 9.3%. Provisions were largely flat QoQ and down 44% YoY to Rs 401 crore. As a result, HDFC's net profit for the quarter was up 16.4% YoY to Rs 3700 crore..Click on the attachment to read the full report:.DISCLAIMERThis 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.

HDFC Q4 Review - Growth Momentum Continues; Outlook Optimistic: ICICI Direct

HDFC Q4 Review - Growth Momentum Continues; Outlook Optimistic: ICICI Direct

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