Axis Bank Q3 results preview
Axis Bank is expected to post muted earnings growth, on an annual basis, when the private lender reports its results for the quarter ended December 31, 2025 (Q3FY26) next week.
According to analysts’ expectations,
Axis Bank may report a double digit decline in net profit on a year-on-year (Y-o-Y) basis amid muted net interest income (NII) growth and higher provisions.
Lower provisions, on a quarter-on-quarter (Q-o-Q) basis, however, may aid the bottom line.
Axis Bank Q3 results date, time
The Board of Directors of Axis Bank is scheduled to meet on
Monday, January 26, 2026 to consider and approve the
unaudited financial results for the quarter and nine months ended December 31, 2026 (Q3FY26/9MFY26).
AxIs Bank will release its Q3FY26 results around
5:15–6:15 PM (IST).
That apart, the bank will host an earnings call with analysts and investors at 6:20 PM (IST) on January 26, 2026, wherein the senior management of the bank will discuss the financial results.
Axis Bank Q3 results: Key monitorables
Analysts said the management commentary on asset quality, margins and loan growth outlook, forecast for PPoP growth and credit cost, slippages (especially from unsecured segment and technical), and NIM progression remain key monitorables.
Axis Bank Q3 results expectations
Nomura
Global brokerage Nomura expects Axis Bank to report a decline in its net profit on a yearly basis. It pegs the profit after tax (PAT) at ₹5,900 crore, down 6 per cent Y-o-Y, on the back of a 3 per cent increase in NII and 1 per cent in pre-provision operating profit.
Nomura estimates Axis Bank’s NII to come at ₹14,070 crore, rising by 3 per cent Y-o-Y and 2 per cent Q-o-Q. PPoP, meanwhile, is seen at ₹10,610 crore, up 1 per cent Y-o-Y and 2 per cent Q-o-Q.
“We expect net interest margins (NIMs) to decline by around 5 basis points (bps) Q-o-Q to 3.7 per cent in Q3Fy26. The trend is divergent compared to peers due to timing difference in re-pricing of loans following rate cuts,” it said.
Further, the brokerage estimates Axis Bank’s loan book to increase by 14 per cent Y-o-Y and 4 per cent Q-o-Q to ₹11,58,400 crore. Deposits, on the other hand, are seen at ₹12,60,800 crore, higher by 15 per cent Y-o-Y and 5 per cent Q-o-Q.
Nomura said Axis Bank’s credit cost could moderate by ~30bps sequentially to 1 per cent.
ICICI Securities
As per this domestic brokerage, Axis Bank could see a 3-per cent dip in its Q3FY26 net profit to ₹6,121 crore from a profit of ₹6,303.8 crore in Q3FY25.
Sequentially, though, it would be a 20.3-per cent jump in PAT from ₹5,089.6-crore profit reported in the September quarter of the current fiscal (Q2FY26).
Operationally, the brokerage, too, has muted expectations from Axis Bank. It pegs NII at ₹13,972.5 crore, clocking a growth of 2.7 per cent on year and 1.7 per cent over the previous quarter.
Axis Bank’s NII was ₹13,605.9 crore in Q3FY25 and ₹13,744.6 crore in Q2FY26.
Similarly, pre-provision profit is seen increasing 4.3 per cent Y-o-Y and 5.5 per cent Q-o-Q to ₹10,983.2 crore.
PPoP was ₹ 10,533.9 crore in the December quarter of the previous fiscal, while it was ₹ 10,412.5 crore in the September 2025 quarter.
ICICI Securities, too, expects Axis Bank’s loan book to increase by 14 per cent Y-o-Y/3.6 per cent Q-o-Q to ₹11.56 trillion.
NIM is seen contracting 8bps Q-o-Q to 3.65 per cent from 3.73 per cent.
On the asset quality front, slippages are seen surging 25.2 per cent annually and 19.4 per cent quarterly to ₹6,800 crore.
Elara Capital
Elara Capital pegs Axis Bank’s NII at ₹13,939.4 crore (up 2.5 per cent Y-o-Y/1.4 per cent Q-o-Q), PPOP at ₹10,432.7 crore (down 1 per cent Y-o-Y/up 0.2 per cent Q-o-Q), and net profit at ₹5,299.9 crore (down 16 per cent Y-o-Y/up 4 per cent Q-o-Q).
Elara Capital expects the bank’s opex to rise 12.3 per cent Y-o-Y to ₹10,155.7 crore in Q3FY26 from ₹9,044.2 crore. Sequentially, it could rise 2 per cent from ₹9,956.6 crore.
The brokerage said it anticipates better Q-o-Q growth (3.3 per cent to ₹11.54 trillion) in loan book, but a softer deposit growth (2.8 per cent to ₹12.37 trillion). NIM, it added, are likely to drop driven by loan mix change, while the impact of recent repo rate cut will bear fruit, largely in Q4FY26.
“Investors should monitor the asset quality as Q3 is a seasonally soft quarter on agri slippages. We expect provisions to rise 55.4 per cent Y-o-Y/down 5.6 per cent Q-o-Q to ₹3,350.1 crore in the quarter,” it said.
Kotak Institutional Equities
Unlike other brokerages, analysts at Kotak Institutional Equities expect Axis Bank’s net profit to fall in Q3FY23, both on Y-o-Y and Q-o-Q basis. This, it said, would be on the back of muted other income and a decline in operating profit.
The brokerage estimates NII at ₹13,985.8 crore, up 2.8 per cent Y-o-Y and 1.8 per cent Q-o-Q. Combined with a non-interest income of ₹6,330.5 crore (up 6 per cent Y-o-Y/down 4.4 per cent Q-o-Q), the brokerage expects Axis Bank’s PPoP to come at ₹10,246.5 crore in this quarter.
PPoP, thus, is expected to dip around 3 per cent annually, and 1.6 per cent sequentially.
Further, dented by a 63 per cent Y-o-Y jump in provisions (at ₹3,511.6 crore), KIE estimates profit before tax (PBT) to fall 19.6 per cent Y-o-Y/2 per cent Q-o-Q to ₹6,734.9 crore.
Adjusting for tax payable, the net profit is estimated at ₹5,064.7 crore, lower by 19.7 per cent Y-o-Y and 0.5 per cent Q-o-Q.
“Axis Bank’s loan growth of 14 per cent Y-o-Y (~4 per cent Q-o-Q) shows a strong recovery, while deposits likely grew well ahead of the industry average at 15 per cent Y-o-Y. We are building NIM to decline ~5 bps Q-o-Q to 3.5 per cent to factor in the composition of loan portfolio that the bank is pursuing for growth,” the brokerage said.
It expects slippages of ₹6,300 crore (~2.2 per cent of loans), led by the retail segment as Q1 and Q3 have higher slippages from PSL portfolio.
 "Axis Bank Q3 preview: Profit may decline amid muted NII, higher provisions")
