BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Axis Bank Ltd.’s asset quality deteriorated sequentially with gross non-performing asset ratio inched up to 4.55% (as per Income Recognition and Asset Classification norms) versus 4.28% led by higher slippage ratio (4.6% versus 1.1% QoQ); however, GNPA improved as against 5.0% YoY led by higher write offs (Rs 42.6 billion versus Rs 27.9 billion YoY).
That BB and below book declined by 5% QoQ and restructured assets stood at 0.42% of customer assets as against earlier estimates of 1.7% are key positives during the quarter.
Profit after tax declined by 37% YoY (down 34% QoQ) led by higher provisions (up 33% YoY) and employee expenses (up 23% YoY).
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