Axis Bank Q3 Review - Risks Moderating With Provisioning Cushion: Prabhudas Lilladher
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Prabhudas Lilladher Report
Axis Bank Ltd.’s earnings of Rs 11.2 billion (our estimate 20.7 billion) was lower than estimates mainly on back of higher provisions and miss on pre-provision operating profit which was due to marginally lower net interest income and high opex.
Pro-forma slippages of Rs 67.4 billion (84% retail) looked under control, while restructuring book of Rs 27.1 billion (45 basis points of loans) was on lower side.
Only negative was high provisions despite carrying additional Rs 112 billion of provisions and also higher write-off in the quarter.
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