Axis Bank likely to witness lower NIM in Q3

According to IIFL estimates, the Net Interest Margin (NIM) is expected to be at 3.8%, a 20.0 bps decrease Y-o-Y while a 10.0 bps decline Q-o-Q.

Axis Bank, one of the largest private banks of the country, will announce its financial results for the quarter ended December 2015 on Wednesday, January 20.

IIFL estimates that Axis Bank could witness a NIM decline of 10 bps.

According to IIFL estimates, the Net Interest Margin (NIM) is expected to be at 3.8%, a 20.0 bps decrease Y-o-Y while a 10.0 bps decline Q-o-Q.

The company is expected to report Net Interest Income (NII) of Rs. 4,193 crore at 16.8% growth rate on Y-o-Y basis. While, on Q-o-Q basis, the IT firm’s net revenue growth is expected to be at 3.2%.IIFL estimates that the company’s Net Profit for Q3FY16 will be around Rs. 2243.9 crore at growth rate of 18.1 % on Y-o-Y basis and 17.1 % on Q-o-Q basis.

Important results on January 20 include DHFL, KPIT, GATI, JSW Energy, NIIT Ltd., Reliance Infra, South Indian Bank, Tata Elexsi, Ultratech Cement, India Bulls Housing Finance, Sasken Communication, among others.