On account of sharp 432.7% yoy (4.8% qoq) surge in provisioning expenses, Axis Bank continued to report below par performance in 3QFY17 as well. Upsurge in provisioning expenses led to earnings de-growth of 73.4% yoy. Higher provisioning was primarily attributable to Management's decision to increase provision coverage ratio to 64% in 3QFY17 compared to 60% in 2QFY17 along with elevated fresh slippages of Rs45.6bn (48% qoq from Rs87.7bn in 2QFY17) compared to Rs20.8bn in 3QFY16. Total slippages from Watch List Accounts to NPAs stood at 55.5% and the Bank had revised it guidance of slippages from Watch List from earlier 60% to significantly higher level for FY17E & FY18E. Hence,...