Economic Times

Axis, M&M, and L&T: The Financial Superheroes of Q1!

Get ready for jaw-dropping profits as Axis Bank, M&M Financial, and L&T unveil their Q1 results! 📈💰

In the world of finance, the first quarter of the fiscal year is always a rollercoaster ride, and this time, India's banking and investment sectors are no exception! Axis Bank is gearing up to reveal its financial prowess on July 24, with expectations of an 11% jump in net interest income (NII) and a remarkable 12% increase in net profit year-on-year (YoY). While the growth sounds promising, experts anticipate a slight decline in Net Interest Margins (NIMs) by about 6-8 basis points. Nevertheless, these figures suggest that Axis Bank is on a strong growth trajectory, potentially solidifying its position in the competitive banking space.

Meanwhile, M&M Financial is not far behind in the Q1 race, boasting a staggering 45% increase in standalone Profit After Tax (PAT) YoY. The company has reported an impressive total income reaching Rs 3,760 crore, alongside a remarkable pre-provisioning operating profit (PPOP) surge. Such performance hints at M&M Financial's resilience and adaptability in the evolving financial landscape, suggesting that they are not merely participants in the market but formidable contenders willing to push the limits.

As for L&T, a titan in engineering and construction, the company's Q1 results are expected to be nothing short of spectacular. Analysts predict a jaw-dropping 12% growth in revenue along with an 11% uptick in PAT. With a firm grip on the infrastructure and construction space, L&T's performance is highly anticipated, especially since it is set to lead the charge towards an economic recovery post-pandemic.

In the midst of these financial revelations, Swaminathan Aiyar's praise for the recent budget underlines the government's efforts in steering the economy towards brighter horizons. He applauds Finance Minister Nirmala Sitharaman for her focus on reducing the fiscal deficit, increasing capital expenditure, and supporting Foreign Direct Investment (FDI). This praise highlights a crucial element in the larger framework of economic growth, which intertwines with the performances of these financial superstars.

Fun fact: Did you know that Axis Bank is India's third-largest private sector bank, boasting over 5,000 branches across the country? On the other hand, M&M Financial Services, a subsidiary of Mahindra Group, is one of the largest non-banking finance companies in India, primarily focused on financing utility vehicles! And let’s not forget L&T, which has been instrumental in building some of India's most iconic landmarks, including the Mumbai Airport Terminal 2!