Axis Bank (Representative image)
ICICI Direct has come out with its first quarter (April-June’ 21) earnings estimates for the Banking & Financial Services sector. The brokerage house expects Axis Bank to report net profit at Rs. 2,794.1 crore up 151.2% year-on-year (up 4.4% quarter-on-quarter).
Net Interest Income (NII) is expected to increase by 13.9 percent Y-o-Y (up 5.3 percent Q-o-Q) to Rs. 7,958.4 crore, according to ICICI Direct.
Pre Provision Profit (PPP) is likely to rise by 17.2% Y-o-Y (down 0.2 percent Q-o-Q) to Rs. 6,851.9 crore.
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