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Q1FY23 Preview: Axis Bank: Net Interest Income seen at Rs91.0 billion; PAT at Rs38.4 billion

24 Jul 2022 , 12:21 AM

Result date: 25th July, 2022
Recommendation: Buy
Target price: Rs900

Healthy loan growth both over the year-ago quarter and sequentially should drive topline of Axis Bank in the June 2022 quarter.  Analysts at IIFL Capital Services forecast Net Interest Income (NII) at Rs91 billion, up 17% Y-o-Y.

Net Interest Margin could inch down a bit owing to increase in cost of funds. Cost to income ratio is also expected to remain elevated. Pre-Provisioning Operating Profit (PPOP) is pegged at Rs61.3 billion. This will be a Y-o-Y decline of 1%. Profit After Tax (PAT) is forecasted at Rs38.4 billion, up 78% over the year-ago quarter.

Key management insights to look into:

  • Trends in loan growth, asset quality
  • Outlook on margins and cost of funds
Rs billion June 2022 estimates YoY change QoQ change
Total income  126.6 14% (3)%
NII  91.0 17% 3%
PPOP  61.3 (1)% (5)%
PAT 38.4 78% (7)%

Source: IIFL Research

Related Tags

  • Axis Bank
  • June 2022 quarter
  • Q1FY23
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