Axis Bank falls 3% despite a 62% rise in Q3 profit; what should investors do now?
Brokerages are largely positive on Axis Bank post its December quarter earnings on the back of improved asset quality, margin expansion, loan growth and RoE/RoA at multi-year highs.
Axis Bank's net profit for the October-December quarter of FY23 (Q3FY23) surged 62 percent year-on-year (YoY), beating analysts' estimates, to ₹5,853 crore on the back of strong loan growth and high net interest income (NII). The lender reported a profit of ₹3,614 in the same quarter last year.
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