Axis Bank Q4 Preview: PAT seen at Rs 6,305 crore vs YoY loss on higher interest income
Axis Bank is expected to report a net profit of Rs 6,305.25 crore for the quarter ended March 31, 2024, according to average estimates of four brokerages against the loss of Rs 5,728 crore reported by it in the year-ago period.
The recovery in profit after tax (PAT) will be led by an uptick in interest income where the bank is seen to report a net interest income of Rs 12,926 crore, up by 10.60% on a year-on-year basis, the average estimates revealed.
The lender will announce its quarterly earnings on April 24, Wednesday.
Axis Bank shares ended at Rs 1,055 on the NSE on Tuesday, up by Rs 1.05 or 0.10% over Monday’s closing price.
Here's what the brokerages recommended:
Nuvama
Nuvama sees the company's PAT at Rs 6,500 crore for the reporting quarter up by 7% versus Rs 6,070 crore in Q3FY24. The NII is estimated at Rs 12,930 crore in Q4FY24 versus Rs 11,740 in Q4FY23, higher by 10%. Sequentially, its is expected to go up by 3% against Rs 12,530 crore in Q3FY24.
Growth for the quarter ended March 31, 2024, is seen at Rs 10,67,200 crore versus 946,900 crore in quarter ended March 31, 2023, up 13% YoY. Sequentially it is likely to be 6% higher from Rs 10,04,900 crore in Q3FY23.
Loans for the said quarter are estimated at Rs 9,69,600 crore, up 15% over Rs 8,45,300 crore in Q3FY24. On the QoQ basis they are seen to grow by over 4% versus Rs 9,32,300 crore reported in Q3FY24. Q4FY24 net ineterst margins (NIMs) is estimated at 4.02% versus 4.01% in Q3FY24.
The bank is expected to have reported provisions of Rs 660
