NEW DELHI: Bajaj Finance is expected to post 50-60 per cent rise in net profit for December quarter, aided by corporate tax cut.
It is seen reporting net interest income (NII) growth of 32-27 per cent.
Sharekhan expects NII to rise 34.5 per cent to Rs 4,303 crore from Rs 3,199 crore YoY.
It sees profit rising 51.6 per cent to Rs 1,606 crore from Rs 1,059 crore.
ICICI Direct expects NII to grow 27.9 per cent at Rs 4,393.80 crore and profit 60 per cent at Rs 1,690 crore.
Motilal Oswal Securities said that even as the customer base growth moderated during the quarter on higher base, assets under management grew 35 per cent.
The brokerage, which expects the recent fund-raising activity to aid margins, said that any commentary on AUM growth and Karvy exposure would be key monitorables.During the quarter, Bajaj Finance raised Rs 8,500 crore from qualified institutional placement (QIP).Motilal Oswal expects the NBFC to clock 30.7 per cent YoY growth in net interest income (NII) at Rs 3,406 crore.
It foresees a 55 per cent jump in net profit at Rs 1,644 crore.
Kotak Institutional Equities sees profit growing 46.9 per cent at Rs 1,556 crore.
It sees NII at Rs 3,429 crore, up 31.6 per cent.
Like Motilal, this brokerage also forecasts 35 per cent growth in AUM, which would be similar to the September quarter.
Bajaj's expansion efforts and strong festive season demand would drive AUM, it said.NIM will likely expand 15 basis points QoQ to 9.65 per cent, in line with seasonal trends.
While cost-to-income ratio will likely remain stable at 35 epr cent, we are building in higher credit costs (2.1 per cent, up 30 bps QoQ) to reflect provisions in its LAS book, Kotak said.
ICICI Direct expects Bajaj Finance to see credit growth of 32 per cent YoY at Rs 1,45,200 crore led by housing and rural sector financing.
Consumer durable financing remained competitive in the festive season, capping strong growth, it said.