Indian Bank - 1QFY2014 Result Preview - Angel Broking

Indian Bank is scheduled to announce its 1QFY2014 results today. We expect the bank to report de-growth of 2.1% yoy in Net Interest Income (NII) to Rs. 1,129cr. Non-interest income is expected to grow by 25.0% yoy to Rs. 278cr. Operating expenses are expected to increase by 18.6% yoy to Rs. 635cr. Provisioning expenses are expected to increase by 85.9% yoy to Rs. 271cr. Hence Net profit is expected to de-grow by 19.6% to Rs. 371cr. At the CMP, the stock is trading at 0.3x FY2015E ABV. We maintain our Neutral recommendation on the stock.

Source : Equity Bulls

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