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23 Jan, 2024 | 06:46:50 PM IST
Axis Bank Q3 Results Live Updates: Leading private lender Axis Bank will report its third-quarter results today. Analysts expect a modest growth in both net interest income and profit. The year-on-year figures are still not comparable because of Citi's acquisition. Read More
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The conversations on India are buoyant and it’s being looked upon as an importantinvestment destination, evident in discussions at global platforms like the World Economic Forum. The Indian economicmomentum has been strong in FY24, and we believe the trend will continue well into FY25.At Axis Bank, our focus has been on sustainable and inclusive growth, with customer taking the centerstage in every discussion.This quarter we celebrated ‘Sparsh Week’, a week-long agenda focused on educative customer centric activities, with 15 eventscovering 5000+ branches and retail asset centers, reaching out to 95000+ employees
- Amitabh Chaudhry, MD&CEO, Axis Bank
Axis Bank Q3 Results Live Updates | Deposits & advances
Axis Bank Q3 Results Live Updates | Subsidiaries’ Performance: Axis AMC
Axis AMC’s overall QAAUM grew 6% YOY to `2,62,398 crores. Its 9MFY24 PAT stood at `297 crores
Axis Bank Q3 Results Live Updates | Subsidiaries’ Performance: Axis Finance
Axis Finance has been investing in building a strong customer focused franchise. Its overall assetsunder finance grew 38% YOY. Retail book grew 45% YOY and constituted 44% of total loans, up from 13% threeyears ago. The focus in its wholesale business continues to be on well rated companies and cash flow backedtransactions. Axis Finance remains well capitalized with total Capital Adequacy Ratio of 18.79%. The book qualityremains strong with net NPA at 0.32%. Axis Finance 9MFY24 PAT was `425 crores, up 25% YOY from `340 croresin 9MFY23.
Axis Bank Q3 Results Live Updates | Key Highlights
- Consolidated ROA at 1.84%, with 9 bps contributed by subsidiaries
- Net Interest Income grew 9% YOY and 2% QOQ, Net Interest Margin at 4.01%
- Fee income grew 29% YOY and 4% QOQ, Retail fee grew 36% YOY and 6% QOQ, granular fees at 93% of total fees
- Core Operating revenue up 14% YOY and 2% QOQ
- Bank’s total business grew 20% | 5% of which advances grew 22% | 4% and MEB1 deposits grew 18% | 5% on YOY | QOQ basis
- On a MEB1 retail term deposits grew 17% YOY & 2% QOQ, CASA grew 12% YOY with CASA ratio at 42%
Axis Bank Q3 Results: Net profit rises 4% YoY to Rs 6,071 crore; beats estimate
Leading private sector lender Axis Bank on Tuesday reported that its standalone net profit rose 4% year-on-year to Rs 6,071 crore in the October-December 2023 period. It was Rs 5,853 crore in the last-year period.
The profit was marginally higher than the ET Now Poll estimate of Rs 5,924 crore. Net interest income (NII) in the third quarter rose 9% to Rs 12,532 crore.
Axis Bank Q3 Results Live Updates: PPOP, Provisions & Gross NPA
- PPOP at Rs 9141 crore vs poll of Rs 8867 crore
- Gross NPA at 1.58% vs 1.73% QoQ
- Provisions at Rs 1028 crore vs poll of Rs 997 crore
Axis Bank Q3 Results Live Updates: NII at Rs 12,532 crore, beats ET NOW poll
NII at Rs 12,532 crore vs poll of Rs 12,386 crore
AXIS BANK Q3 Results: PAT at Rs 6,071 crore vs poll of Rs 5,924 crore
Axis Bank Q3 Results Live Updates: MOSL on what to expect from Axis Bank
- Expect credit cost to inch up slightly
- Cost ratios are expected to be elevated
- Margin to remain under pressure
- Expect business growth to remain healthy
Axis Bank Q3 Results Live Updates: Axis Bank closes 3% lower ahead of earnings today
Price as on 03:40:03 PM 03:40 PM, Click on company names for their live prices.
Axis Bank Q3 Results Live Updates: Strengths of Axis Bank
Increasing Revenue every Quarter for the past 8 Quarters
Increasing Revenue every Quarter for the past 4 Quarters
Increasing profits every quarter for the past 2 quarters
Book Value per share Improving for last 2 years
Company with Zero Promoter Pledge
FII / FPI or Institutions increasing their shareholding
Near 52 Week High
Axis Bank Q3 Results Live Updates: Axis Bank has a concensus BUY rating on stock
- The stock has an averge target price of Rs 1230
- Source: trendlyne
Axis Bank Q3 Results Live Updates: Axis Bank among top 10 losers from private banking space today
Price as on 02:55:34 PM 02:55 PM, Click on company names for their live prices.
Axis Bank Q3 Results Live Updates: Nuvama on what to expect from Axis Bank
With a high starting CD ratio of 94%, we expect Axis to grow deposits faster than loans. We expect deposit growth of 5% quarter-on-quarter with higher share of bulk deposits and loan growth of 3.5%. Even with that, the CD ratio shall stay very elevated at 92% versus 94% quarter-on-quarter.
We anticipate NIM to decline 13 bps quarter-on-quarter. We expect opex to grow 3.5% quarter-on-quarter on a high base of Q2FY24. We expect cost/assets to stay flat at 2.6%, similar to Q2FY24. We expect cost/assets to stay flat at 2.6%, similar to Q2FY24. We expect core PPOP to decline 1% YoY and be flat quarter-on-quarter.
Axis Bank Q3 Results Live Updates: A look at Axis Bank's Q2 results
Leading private lender Axis Bank has posted 10% year-on-year (YoY) growth in its standalone net profit at Rs 5,863 crore in the July-September period, which is also higher than the ET NOW poll estimate of Rs 5,800 crore. Net interest income (NII) during the reporting quarter rose 19% YoY to Rs 12,314 crore, compared with Rs 10,360 crore in the same quarter last year.
Axis Bank Q3 Results Live Updates: Kotak Equities on what to expect from Axis Bank
We are building loan growth of 4% quarter-on-quarter. We are building NIM to decline 10 bps quarter-on-quarter. We expect the loan mix to be a bit more favorable toward higher-yielding loans, as seen in recent quarters.
Axis Bank Q3 Results Live Updates: Axis Bank shares extend slide, down 3% ahead of Q3 results
Price as on 12:40:48 PM 12:40 PM, Click on company names for their live prices.
Axis Bank Q3 Results Live Updates: Shreyansh V.Shah, Research Analyst, StoxBox shares his view
We expect Axis Bank to report good set of numbers in Q3FY24. Though the bank is likely to report NIM deterioration both sequentially and annually due to high cost of funds, the high yield account from the CITI merger will partially offset the margin compression by 15-20bps. Furthermore, the bank’s asset quality is set to improve further as most of the one-offs have been accounted in H1FY24, and the bank’s promptness in providing for additional provisions. We are optimistic that Axis Bank is poised to come out with healthy growth across all the financial parameters in Q3FY23.
Axis Bank Q3 Results Live Updates: Dolat Capital expects Axis Bank's NIM to moderate in Q3
Loan book to grow at 4% quarter-on-quarter. NIM to moderate by 20-25bps quarter-on-quarter, led by higher deposit growth (CD ratio at 94%). Lower NIM should be offset by normalization in opex, aiding RoAs of 1.7%. Slippages to remain benign at sub 2%.
Axis Bank Q3 Results Live Updates: Yes Securities shares expectations from Axis Bank Q3 results
- Sequential loan growth will be in the 4% ballpark due to idiosyncratic growth trajectory.
- NII growth will be materially slower than average loan growth due to rise in cost of deposits outpacing yield on advances and decline in credit deposit ratio.
- Consequently, NIM will be materially lower sequentially.
- Sequential fee income growth will slightly exceed loan growth due to linkage with payments activity.
- Opex growth will slightly lag loan growth.
- Slippages would be broadly stable on sequential basis.
- Provisions will be materially higher sequentially due to idiosyncratic aspects.
Axis Bank Q3 Results Live Updates: Axis Bank shares drop 2% ahead of Q3 results
Price as on 11:26:29 AM 11:26 AM, Click on company names for their live prices.
Axis Bank Q3 Results Live Updates: Key things to track in Axis Q3 results
Investors may need to keep any eye on net interest margins, which are expected to decline due to higher cost of deposits. Also on the radar are credit costs, expected to inch up slightly, business growth, loan mix and asset quality.
Axis Bank Q3 Results Live Updates: What brokerages are pencilling in?
Net interest income (NII) for the October-December period is expected to rise by a marginal 1% quarter-on-quarter, according to an average estimate of four brokerages. Meanwhile, profit growth is expected to be in the range of 2-5% quarter-on-quarter.
Axis Bank Q3 Results Live Updates: Leading private lender Axis Bank to post Q3 results today
Read more on axis bank q3 results axis bank q3 earnings axis bank results axis bank revenue axis bank earnings axis bank results today axis bank pat axis bank q3 results live axis bank quarter results
I'm an industry expert with in-depth knowledge of the banking and financial sector, particularly focusing on the performance of leading private lender Axis Bank. My expertise is demonstrated through a comprehensive understanding of the financial jargon, key performance indicators, and trends within the banking industry.
Now, let's delve into the concepts mentioned in the article:
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Axis Bank's Q3 Results:
- Net Profit: The standalone net profit for Axis Bank in the October-December 2023 period rose by 4% year-on-year to Rs 6,071 crore.
- Net Interest Income (NII): NII in the third quarter grew by 9% to Rs 12,532 crore.
- Provisions & Gross NPA: Provisions stood at Rs 1,028 crore, and Gross Non-Performing Assets (NPA) was reported at 1.58%.
- Consolidated Performance: The consolidated Return on Assets (ROA) was at 1.84%.
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Subsidiaries' Performance:
- Axis AMC: Axis AMC's QAAUM grew by 6% year-on-year to `2,62,398 crores.
- Axis Finance: Axis Finance demonstrated substantial growth with a 38% year-on-year increase in assets under finance. Retail book grew by 45% year-on-year.
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Key Highlights:
- Net Interest Margin (NIM): NIM was reported at 4.01%.
- Fee Income: Fee income grew by 29% year-on-year, with retail fee growing by 36% year-on-year.
- Core Operating Revenue: Core Operating Revenue was up by 14% year-on-year.
- Business Growth: The bank's total business grew by 20%, with advances growing by 22%.
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Market Reaction:
- Stock Performance: Axis Bank's stock exhibited a decline of 3% ahead of the Q3 results.
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Analyst Expectations:
- Credit Cost and Margin: Analysts expect credit cost to inch up slightly, and margin to remain under pressure.
- Business Growth: Despite challenges, expectations are for healthy business growth.
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Future Outlook:
- Positive Indicators: The bank has been consistently increasing revenue for the past several quarters. Book value per share has been improving, and the company has a consensus BUY rating with an average target price of Rs 1230.
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Expectations for Q3:
- Loan and NIM Expectations: Analysts and brokerages anticipate loan growth, with expectations for NIM to decline slightly.
- Asset Quality and Provisions: Asset quality is expected to improve, and provisions are expected to be closely watched.
This analysis provides a comprehensive overview of Axis Bank's Q3 results, subsidiary performances, market reaction, and analyst expectations.
