Axis Bank Q4 Results FY2023 Preview: What to Expect?

Axis Bank Q4 Results FY2023 Preview

by Shreya Anaokar Last Updated: Apr 26, 2023 - 05:30 pm 1k Views
Listen icon

On April 27, Axis Bank will announce its March quarter financial results (Q4FY23). 

In Q3FY23, Axis Bank reported Net Interest Income (NII) at Rs.11,459 crores. Net interest margin (NIM) for Q3FY23 stood at 4.26%. Net profit at Rs.5,853 crores in Q3FY23. 

Axis Bank announced in March 2023 that it had successfully acquired Citibank's Indian retail business for a total cash consideration of Rs 11,603 crore. Last year, Axis Bank and Citibank NA (acting through its branch in India) agreed that the bank would buy the NBFC Consumer Business from Citicorp Finance (India) Limited (CFIL) and Citibank's India Consumer Business from Citibank NA.

Without unusual expenses, Axis Bank is anticipated to report a 39.7% YoY increase in net profit. Due to the integration with Citibank, the bank is anticipated to report a loss of Rs 5,487 crore in the quarter. If the unusual costs are not included, the bank's net profit is projected to increase by 39% to Rs 5,784 crore.

Market Expectations from Axis Bank’s Quarterly Results:

According to Prabhudas Lilladher, Axis Bank will report a net profit of Rs 5,902.9 crore, up 0.9 percent QoQ and up 43.4 percent YoY. Net Interest Income (NII) is anticipated to increase to Rs 12,415.8 crore, up 8.3% QoQ and 40.8% YoY. Pre Provision Operating Profit (PPOP) is forecast to increase to Rs. 9,452.6 crores, or 46.2% YoY and 1.9% QoQ.

Axis Bank is anticipated by Kotak Institutional Equities to report a net profit of Rs 6,492.2 crore, up 56 percent on an annual basis, up by 9.7% on a quarterly basis). To reach Rs 12,015.8 crore, Net Interest Income (NII) is anticipated to rise by 39.7% YoY and 7.5% QoQ. The expected growth rate for Pre-Provision Operating Profit (PPOP) is 51.2 percent YoY and up by 5.4% QoQ. 

Axis Bank is anticipated to report a net profit of Rs 4,959.2 crore, up 20.4 percent year over year but down 15.3 percent quarter over quarter, according to ICICIdirect. To reach Rs 11,742.8 crore, Net Interest Income (NII) is anticipated to rise 33.1 percent YoY (up 2.5 percent QoQ). Pre Provision Operating Profit (PPOP) is anticipated to increase to Rs 8,667 crore, up 34% YoY (down 6.6% QoQ).

Axis Bank is anticipated to report a loss of Rs 4,800 crore for the quarter ended March 2023 (Q4FY23) as a result of the Citi merger, according to Zee business analysts. The loss may range from Rs 2,900 billion to Rs 5,900 billion. According to Zee Business Research, the bank's business will probably expand while the net interest margin will shrink. Additionally, it is anticipated that credit costs and slippages will decrease. Additionally, the analysts do not anticipate a material increase in Treasury income. 

Since gross non-performing assets (GNPA) are currently 2.2% versus 2.38 % YoY, asset quality is likely to improve.  Also anticipated is a decline in Net NPA.
 

Share Market Today


How do you rate this article?

or

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
IREDA IPO debuts on NSE with a 56.25% premium, triggering a 20% upper circuit

Indian Renewable Energy Development Agency Ltd (IREDA) had a very robust listing on 29th November 2023

Siemens Q4 Revenue Surges 25%, Board Declares ₹10/Share Dividend

Engineering and automation giant Siemens Ltd reported a 49.8% YoY surge in net profit, reaching ₹571.6 crore for the fourth quarter ending September 30, 2023. The company operates on an October-September financial year and declared this information in a recent regulatory filing.

Alipay Plans Zomato Stake Sale: 3.4% via Block Deal, Stock Surge

In the early deals on Wednesday, November 29, shares of food services aggregator Zomato saw a gain of up to 3.69%, reaching ₹118.