Axis Bank share price slipped about 1.60 per cent in morning trade on Thursday, October 17, ahead of its July-September quarter (Q2) results. Shares of the banking major opened at ₹1,152.95 against its previous close of ₹1,152.25 and slipped 1.6 per cent to the level of ₹1,134. Around 10:25 am, the stock traded 1.5 per cent lower at ₹1,135.35.
Axis Bank Q2 preview
Experts expect Axis Bank to report an 8-9 per cent year-on-year (YoY) rise in net profit for Q2FY25, driven by an increase in net interest income (NII) and reduced slippages.
As Mint reported earlier, an average estimate from five brokerages indicates the private sector lender’s NII for Q2 may grow by 10 per cent YoY, while slippages are anticipated to increase by 29 per cent YoY but decline by 12 per cent quarter-on-quarter (QoQ).
According to brokerage firm Motilal Oswal Financial Services, Axis Bank may report a 13 per cent YoY rise in net profit for Q2, while NII may see an increase of 10.7 per cent YoY. The brokerage firm expects the CD (credit-deposit) ratio to remain elevated and margins may moderate in Q2. Asset quality ratios may be keenly monitored and cost ratios may remain elevated, said the brokerage firm.
Nuvama Institutional Equities see a 10 per cent YoY rise in core PAT, while pre-provision operating profit (PPoP) may grow 18 per cent YoY.
“NII is likely to grow 1.8 per cent QoQ and 11.2 per cent YoY. Margin is likely to decline by nearly 3 bps. Growth in NII, non-interest income, and lower provisions would lead to higher PAT. Axis will likely report QoQ loan growth of under 1 per cent,” said Nuvama.
Axis Bank share price trend
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