Fedbank Financial Services Q4 Results Review - Expect AUM Growth To Remain At 25%: ICICI Securities

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Fedbank Financial Services Ltd. delivered strong Q4 FY24 financial performance as reflected in 14% QoQ AUM growth, with core net interest income growing 6% QoQ and credit cost moderating to 0.6% versus 0.9% QoQ. Change in accounting policy on income recognition of DA portfolio to net basis vs gross basis earlier and lower assigned AUM in Q4 FY24 temporarily impacted the top line. The same resulted in negative income of Rs 180 million (unwinding of DA income recognised in previous quarter) versus Rs 165 million DA income in Q3 FY24. As a result, net revenue fell 3% QoQ. Asset quality continued to improve with gross non-performing loan falling to 1.7% versus 2.2% in Q3 FY24. While 30 plus days past due increased sequentially to 4.5% versus 4.3%, the same remained range bound at 4.3-4.6% in the past six quarters. Maintain Buy with an unchanged target price of Rs 184, valuing the stock at two times price-to-book value on Sep’25E BVPS..Click on the attachment to read the full report:.Byju's Sales Staff To Get Paid Only Based On Weekly Revenue They Bring.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Fedbank Financial Services Q4 Results Review - Expect AUM Growth To Remain At 25%: ICICI Securities

Possibility of raising guidance if market trend continues to be robust

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Fedbank Financial Services Q4 Results Review - Expect AUM Growth To Remain At 25%: ICICI Securities

Possibility of raising guidance if market trend continues to be robust

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