Axis Bank Q2 Profit Climbs 38% as Income and Advances Grow
The lender reported higher quarterly profit and net interest income, while its gross and net bad-loan ratios fell year over year.
Key takeaways
- Q2 net profit rose 38% year over year to Rs 7,003 crore.
- Net interest income increased 12% to Rs 15,371 crore.
- Gross NPA ratio fell 30 basis points year over year to 1.16%.
Axis Bank reported a net profit of Rs 7,003 crore for the second quarter of FY27, up 38% from a year earlier. Net interest income rose 12% to Rs 15,371 crore, and the bank’s net interest margin was 3.36%.
The lender’s gross non-performing asset ratio fell 30 basis points year over year to 1.16%. Its net NPA ratio declined 9 basis points to 0.35%, while the net slippage ratio dropped 30 basis points to 0.75%.
Advances grew 23% year over year and 9% from the previous quarter, the bank said in a regulatory filing. Operating profit increased 6% to Rs 11,083 crore, while core operating profit rose 11% to Rs 10,998 crore.
Provisions and contingencies totaled Rs 1,694 crore in the quarter, including Rs 1,564 crore in specific loan-loss provisions. At September 30, the bank held Rs 15,860 crore in cumulative provisions for standard and additional provisions other than NPAs.
For the first half of FY27, net profit increased 30% to Rs 14,117 crore. Net interest income rose 10% to Rs 30,018 crore, and fee income grew 6% to Rs 12,536 crore.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
