Views of Mr. Vaibhav
Agrawal (VP Research-Banking) on LIC Housing Finance:
“LIC Housing Finance
Ltd (LIC HFL) reported disappointing set of numbers for 3Q FY 2013, as growth
in its net interest income, came below expectations at 11 % year on year.
Operating profit growth came in moderate at 8 % year on year. Provisioning
expenses for the bank jumped up to Rs. 32 crore during the quarter, which was
much higher than ours as well as consensus estimates and hence earnings
declined by 23 % year on year. We await clarity from the management about the
quarterly performance and the future outlook. We maintain our Accumulate rating
on the stock.”
For any further
information you may get in touch with Mr.Agrawal he can be reached - 022 3094 0000 Extn- 6808.
Corporate
Communications Team
6th Floor, Ackruti
Star, Central Road,MIDC
Andheri (E), Mumbai - 93
Main : (91-22) 3935 7600 Extn : 6956
Website : www.angelbroking.com
Mail:
angelresearch@angelbroking.in
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