BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Repco Home Finance Ltd. reported further decline in its loan growth to 6% YoY (Q1 FY21) versus 7% YoY (FY20); however reported strong growth of 3% QoQ led by higher interest accrual (Rs 2.3 billion) although disbursements declined by 73% YoY.
Asset quality improved on a sequential basis with gross non-performing asset at 4% versus 4.2%.
Net interest income remain flat YoY led by decline in net interest margins; pre-provision operating profit grew by 4% YoY led by improvement in cost to income ratio.
Profit after tax grew by 3% YoY led by lower tax rate; profit before tax declined by 10% YoY led by higher provisions.
Management guidance for 5% growth in the asset under management has made us revise the estimates on loan growth at 5% for FY21 versus 2% YoY earlier.
However, despite the uncertainties in the sector it is able to garner a spread of 3% with a comfortable liquidity position.
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 brokerage 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.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
