Axis Bank Q2 PAT seen up 21% to Rs 1110 cr

India's third largest private sector lender Axis Bank is set to declare its quarterly earnings today. Analysts on an average expect the profit after tax to grow by 21% year-on-year to Rs 1110 crore in the second quarter of financial year 2012-13.

Net interest income is seen going up by 15% to Rs 2,313 crore from Rs 2,007 crore during the same period.

Analysts expect increased pressure on asset quality of the bank as it has been deteriorating sequentially. The stock fell 2 percent after the announcement of results in last quarter.

Fee income is also expected to be under pressure while loan growth is likely to be average previous quarters of 25-30%.

Additionally, analysts are also watching for net interest margins, which are expected to be pressured in the September quarter. In previous quarter, cost of funds stood at at a multi-quarter high of 6.7%.

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