On Friday, key results of Reliance Industries (RIL), Wipro, UltraTech Cement and JSW Steel were reported.
Here’s a preview of what the numbers might look like for HDFC Bank and Kotak Mahindra Bank:
HDFC Bank Q1 Preview
HDFC Bank is likely to put up a muted show in the quarter ended June 2024, compared with the preceding March quarter, mainly due to weak deposit growth. The numbers with the year-ago period are not comparable, owing to its merger with HDFC Ltd.
Net profit for the June quarter is likely to fall about 5% year-on-year, according to an average estimate of five brokerages. Meanwhile, net interest income (NII) for the same period is seen rising by a marginal 2% quarter-on-quarter.
Also Read: HDFC Bank Q1 Preview: Muted sequential show expected as PAT may fall up to 5% QoQ
Kotak Bank Q1 Preview
Private lender Kotak Mahindra Bank is expected to report a net profit of Rs 3,682 crore for the quarter ended June 30, 2024 according to average estimates of six brokerages. The profit after tax may go up by nearly 7% on the year-on-year basis. The net interest income is seen at Rs 7,053 crore for the reporting quarter which is likely to be higher by 13% as per the average estimates by these half-a-dozen brokerages.
Yes Securities is most bullish on its PAT estimates of Kotak Mahindra Bank and pegs it at Rs 3,883 crore for the April-June quarter followed by Anand Rathi at 12.5% and 10.4%, respectively. Meanwhile, BNP Paribas has the most conservative estimates of Rs 3,520 crore which is just a 2% YoY uptick over the PAT reported in the year ago period.
Also Read: Kotak Bank Q1 results preview: PAT may grow by 7% YoY to Rs 3,682 crore, 13% jump in NII seen
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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