Axis Bank Q2 preview: Profit may rise over 40% YoY on low provisions

Analysts said progress of the Citi portfolio, direction of operating profit growth, and credit growth amid slowdown concerns will be tracked by investors

Axis Bank Q2 preview: Axis Bank, which is slated to report its September quarter (Q2) result for fiscal 2022-23 (FY23) on Thursday, October 20, is expected to post net profit growth of over 40 per cent year-on-year, brokerages noted. On a quarterly basis, it could see an improvement of at least 8 per cent. That apart, net interest income (NII), they projected, may rise nearly 25 per cent YoY.

In the year-ago quarter (Q2FY22), Axis Bank had reported net profit of Rs 3,133.3 crore, operating profit of Rs 5,928.2 crore, and NII of Rs 7,900.3 crore. It's net interest margin (NIM)