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Axis Bank is yet another big Bank to report great results for June2020 qtr

NII grew 20% YoY to 6985Cr
NIM at 3.4%
GNPA fell to 4.72% Vs 4.86% QoQ, reflecting better asset quality

PAT was 1428Cr Vs loss of 1879Cr in preceding qtr&profits came about,despite higher provisioning💪
Moratorium book of Axis,is just 9.7% of advances Vs 25-28%,earlier

Gravity defying moves of #Sensex are being questioned--well,truth is,1QFY21 results have been far better than consensus--From HdfcBank &ACC,to Bandhan Bank&Infosys, results point to fast paced recovery

Ignoramuses say,good results from #AxisBank are due to moratorium loans not being classified as doubtful assets or NPAs

Well,Axis has seen contingent provisioning of 1.2% at 6898Cr to cushion against NPAs&still declared healthy profits

Asset quality for most banks has improved
#Cement is a lead indicator& #ACC's results foretell,sharp recovery in #economy

True,Profit fell 41% YoY and Revenues fell 37%,but Margins rose 156bps to 20.8%

Ebitda per tonne rose from Rs741 in March2020 qtr,to 915 in June2020 qtr

Free cash flows in 1st half of CY20 rose 82%
Easy to make sweeping remarks on gloom&doom,but analysis of June 2020 results show,things are holding up pretty well

See results of JindalSteel&Power for instance--consensus predicted a loss,but Co reported Profit of Rs267Cr with 380bps jump in Margins,to 25.7%

L&T,#EPC behemoth&proxy to India's #Infrastructure space, bagged orders of Rs 23574Cr in June2020 qtr&this,despite #lockdown&shortage of contractual migrant labour,due to #Covid_19

International orders in June2020 qtr at Rs8872Cr,were 38% of total order inflow

Consolidated order book of L&T stands at solid Rs3.05 lakh Cr as on June 30,2020,with international order book,at 24% of total order book

Yes,profit&revenues,down 69%&26% YoY,but year-on-year comparison is futile

537Cr Profit by L&T in June qtr despite #Covid_19,is pretty good!
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