HDFC Ltd. net profit for the December quarter rose nearly four times to `8,372Cr from `2,114Cr a year ago on the back of fair value gain it took into account for the sale of subsidiary Gruh Finance to Bandhan bank. Loan book growth of 14% was driven by Individual loans growing at 16%, while developer credit slowed to 6%, marginally up from 3% QoQ. NIMS remained constant at 3.30% QoQ. However, its asset quality inched...
Havells India Ltd (HAVELLS) topline declined ~10% YoY and grew ~2% QoQ to `22,733mn due to decline in demand across geographies, sectoral liquidity challenges and slowdown in infra segment impacting industrial cables, professional lighting and industrial switchgear sales. ECD segment grew ~1% YoY and ~6% QoQ with gain in market share. Sequentially Lloyds and ECD...
L&T; Finance Holdings (LTFH) saw moderated loan growth of 14% YoY in focused business book. NIMs+Fees have remained steady at 7.29% (7.33% in 2QFY20). LTFH reported marginal rise in consolidated net profit to `591 Cr vs. `580 Cr in corresponding quarter last...
IndusInd Bank reported steady December quarter with most parameters on expeceted lines except for fresh slippages which marred the overall performance. Loan book growth moderated to 20% yoy for second consecutive quarter, however, deposit saw continue surge in its growth at 23% yoy. Core operating performance was robust with preprovisioning operating profit rising by 30% yoy to `2,758 Cr aided by strong NII growth of 34% yoy & modest cost to income ratio of ~43%. Its asset quality for the quarter was...
The Bank offers specialized services under six business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Retail Assets, Development Banking and Financial Inclusion,...
Financial Products Spandana Sphoorty Financial Ltd (Spandana) is a rural focused Micro-Finance Institution with a pan India presence. It mainly focuses on Abhilasha' loans whose primary objective is to empower women in setting up and expanding income generating activities, smoothen household cash flows and acquire productive assets. For its income generation loans, it presently focus on areas such as agriculture,...
Recent Measures The MPC notes that economic activity has weakened further and the output gap remains negative. However, several measures already initiated by the Government and the monetary easing undertaken by the Reserve Bank since February 2019 are gradually expected to further feed into the real economy. Data on corporate finance and on projects sanctioned by banks and financial institutions suggest some early signs of recovery in...
Banks are taking conservative approach w.r.t LAP portfolio as compared to unsecured loan book which consist of Personal Loan & Credit Card. Figure 1 Large Private Sector Banks grew ~16% yoy largely driven by Retail......
Management is hopeful of auto-industry revival and expects sales volume to pick up for company in FY21E with commencement of commercial production at Dahej plant. Also, they indicated export share can increase as they are getting enquires from new customers...
