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.
Dolat Capital Report
Axis Bank Ltd. reported net interest income and pre-provision operating profit growth of 11% and 17% year-on-year respectively.
The miss in net interest income estimates was compensated by higher fee and treasury gains.
Margins were stable quarter-on-quarter at 3.56% despite improving cost of funds.
Asset quality metrics improved sequentially with 85 basis points decline in gross non-performing asset ratio to 3.7%, contained slippages at 3.6% for the quarter, decline in ‘BB and below’ book by 40 bps QoQ to 2% of advances, and restructured book at 0.3% of loans (against 0.5% for other large private peers).
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