Axis Bank is expected to report profit at Rs 1,298.7 crore for the quarter ended September 2017, a whopping 307 percent growth over Rs 319.1 crore in same quarter last fiscal. In year-ago quarter, profitability was impacted by higher provisions.
On sequential basis, profit is expected to decline 0.5 percent.
According to average of estimates of analysts polled by CNBC-TV18, net interest income is seen rising 5 percent to Rs 4,741 crore from Rs Rs 4,513.9 crore year-on-year.
Key things to watch out for:
Slippages from watchlist will be seen closely. Total amount of loans under watchlist at the end of June quarter was Rs 9,485 crore (2.46 percent of loan book) and slippages from watchlist in Q1 were at Rs 797 crore.
Focus will also be on non-watchlist slippages.
If gross non-performing assets come below 5.1 percent and net interest margin above 3.65 percent then that will be taken positive by the Street.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
