Axis Bank Q4 Review - A Reasonable Performance: Prabhudas Lilladher
A pedestrian wearing a protective mask walks past an Axis Bank Ltd. branch on a near-empty street in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Axis Bank Q4 Review - A Reasonable Performance: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

Axis Bank Ltd. earnings of Rs 26.8 billion (our estimate Rs 19.6 billion) saw a strong beat on back of better than expected other income and lower provisioning.

Pre provision operating profit grew by 17%, although core pre-provision operating profit grew by 9% YoY as net interest income growth looked slightly weaker with growth of 11% YoY which was lower than 16% of FY21.

Headline asset quality was better due to better recovery/upgrades and higher write-off of Rs 55.3 billion (89 basis points of loans).

Bank has maintained provision coverage ratio of 72% and 80bps of Covid-19 provisions over and above regulatory specific provisions on non non-performing assets.

Click on the attachment to read the full report:

Prabhudas Lilladher Axis Bank Q4FY21 Result Review.pdf

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