Axis Bank shares fell over 5% to Rs 1,034.75 on Wednesday despite higher-than-expected December quarter earnings. Positive commentary from brokerages failed to alleviate selling pressure in top banking counters. Morgan Stanley maintained an Overweight stance, while Nuvama maintained a Buy view. However, Motilal downgraded the rating to Neutral due to growth challenges. Axis Bank reported a 4% YoY jump in standalone net profit to Rs 6,071 crore. Net interest income in Q3 rose 9% to Rs 12,532 crore.
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
Axis Bank share price today: Motilal Oswal said it sees profit at Rs 6,082.20 crore, up 3.9 per cent YoY. NII is seen growing 10.9 per cent YoY to R 12,710 crore. This brokerage sees provision at Rs 950 crore.
Axis Bank Q3 Results: Net interest income in the third quarter rose 9% to Rs 12,532 crore. On a sequential basis, net profit increased 3.5%, while net interest income was up by a marginal 1.7% quarter-on-quarter. The year-on-year figures are not truly comparable due to Citi s acquisition.
Axis Bank is likely to report Q3 FY24 NII at Rs 12,555 crore, up 9.5 percent on-year. Net profit is expected to be at Rs 6,114 crore in Q3FY24, up 4.4 percent on-year