Stories
Axis Bank Q2 Profit Jumps 38 Percent Driven By Lower Provisions And Better Asset Quality
- •Axis Bank reported a 38 percent year-on-year increase in standalone net profit to Rs 7,003 crore for the July-September quarter.
- •Provisions and contingencies dropped significantly by 52 percent to Rs 1,694 crore compared to the same quarter last year.
- •Gross non-performing assets improved to 1.16 percent, and net NPAs dropped to 0.35 percent, indicating strengthening asset quality.
- •Net interest income saw a 12 percent growth reaching Rs 15,371 crore with a net interest margin of 3.36 percent.
- •Total deposits grew by 21 percent year-on-year to reach Rs 14.52 lakh crore, while advances surged 23 percent to Rs 13.74 lakh crore.
Key Questions Answered
Axis Bank reported a 38 per cent year-on-year jump in standalone net profit to Rs 7,003 crore for the July-September quarter of FY27. Another report notes the net profit specifically reached Rs 7,003.3 crore, which fell slightly short of market expectations.
The bank's profitability was strongly supported by a sharp 52 per cent decline in provisions and contingencies to Rs 1,694 crore, alongside improving asset quality metrics. Gross NPAs declined to 1.16 per cent and net NPAs improved to 0.35 per cent compared to the previous year.
Axis Bank registered robust deposit growth of 21 per cent year-on-year and 6 per cent quarter-on-quarter, bringing total deposits to Rs 14.52 lakh crore. Meanwhile, advances rose 23 per cent year-on-year and 9 per cent quarter-on-quarter to stand at Rs 13.74 lakh crore.
