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Motilal Oswal has come out with its first quarter (April-June’ 21) earnings estimates for the Banks and Insurance sector. The brokerage house expects Axis Bank to report net profit at Rs. 2,171.1 crore up 95.2% year-on-year (down 18% quarter-on-quarter).
Net Interest Income (NII) is expected to increase by 12.4 percent Y-o-Y (up 3.9 percent Q-o-Q) to Rs. 7,851.8 crore, according to Motilal Oswal.
Pre Provision Profit (PPP) is likely to rise by 12.9% Y-o-Y (down 3.8 percent Q-o-Q) to Rs. 6,600.4 crore.
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