Axis Bank (AXSB) reported weak earnings, with PAT impacted by lower income and higher opex, while provisions remained elevated. NII income was impacted due to the reversal of proforma slippages. On the business front, retail disbursements were strong QoQ, while disbursements under the ECLGS scheme supported growth in the SME book. AXSB holds cumulative additional provisions of INR119b (~2% of loans). Overall, the bank has approved total restructuring of ~0.42% of loans and does not intend to provide any fresh approvals. The total funded and nonfunded BB & below pool stood at ~2.4% of loans....