Axis Bank Q2 Results Net Profit of ₹6,917.57 Crore, Up 18% YoY

Axis Bank Q2 Results: Axis Bank has shown strong growth in its latest quarterly results, which cover the period from July to September 2024. The bank reported a net profit of ₹6,917.57 crore, which is an 18% increase compared to the same time last year when it was ₹5,863.56 crore. This rise in profit is mainly due to more people taking loans and the bank earning more interest. The net interest income, which is the money the bank makes after paying interest on deposits, increased by 10% to ₹13,483.2 crore.

Axis Banks’ net interest margin, an important measure of profitability, decreased slightly from 4.11% to 4.00%. This drop was influenced by a one-time tax benefit from the previous quarter. On the positive side, the bank's asset quality improved, with the gross non-performing assets (NPA) ratio falling to 1.44%, showing that fewer loans are going unpaid. Additionally, the total loans grew by 11%, and total deposits rose by 14%. Overall, Axis Bank's strong performance indicates effective management and a healthy demand for loans, suggesting it is in a good position for future growth.

Here’s the information about Axis Bank's growth presented in a table format:

Source: Here 

For More Quarterly Results check our Twitter Page

Visit our website for more Quarterly results

Axis Bank Q2 Results

Axis Bank table presents unaudited standalone financial results for the quarter and half-year ended September 30, 2024. It shows various financial metrics to evaluate the bank's performance. For the quarter ending September 30, 2024, the bank earned ₹30,419.86 lakhs from interest, a slight increase from the previous quarter. The total income, which combines interest and other income, reached ₹37,141.71 lakhs, up from ₹35,844.22 lakhs in the last quarter.

Axis Bank’s Total expenditure, including interest and operating expenses, was ₹26,429.24 lakhs, leading to an operating profit of ₹10,712.47 lakhs. After accounting for provisions (money set aside for potential losses) of ₹2,204.09 lakhs, the profit before tax was ₹8,508.38 lakhs. After tax expenses of ₹1,590.81 lakhs, the net profit for the quarter stood at ₹6,917.57 lakhs.

Axis Bank table also highlights important ratios, like the capital adequacy ratio, which shows the bank’s financial strength, remaining stable at around 16.61%. The earnings per share (EPS) indicate profitability, with a basic EPS of ₹22.37 for this quarter. 

Here’s a simplified presentation of the unaudited standalone financial results for the quarter and half-year ended September 30, 2024.

(Rs. in Millions)

Axis Bank Financial Performance

The Axis Bank table provides important financial information about the bank's performance. Its market cap is ₹3,69,758 crore, showing its total value in the stock market. The current stock price is ₹1,195, which is the price for one share. The highest price this year was ₹1,340, while the lowest was ₹951. The stock price-to-earnings (P/E) ratio is 13.2, indicating how much investors are willing to pay for each unit of earnings. The book value per share is ₹509, reflecting the value of the bank's assets.

Here’s the information you provided presented in a clear table format:

Quarterly Results 

In the results for Axis Bank in March 2024, the bank reported a revenue of ₹30,231 crores and a net profit of ₹7,630 crores, which showed strong performance. However, in June 2024, revenue increased slightly to ₹31,159 crores, but the net profit fell to ₹6,467 crores. This decrease indicates some challenges the bank faced during that quarter. By September 2024, Axis Bank bounced back with a revenue of ₹31,601 crores and a net profit of ₹7,436 crores. 

Here are the quarterly results specifically for March 2024, June 2024, and September 2024:

(Consolidated Figures in Rs. Crores)

About Axis Bank 

Axis Bank, originally known as UTI Bank, is one of India's largest private banks. It was founded on December 3, 1993, and is based in Mumbai, Maharashtra. The bank offers a wide range of financial services, including retail banking, corporate banking, investment banking, mortgage loans, and wealth management. With over 5,300 branches across India, it serves millions of customers, from individuals to large businesses. 

As of March 2024, Axis Bank reported impressive financial results, with a revenue of ₹137,989 crore (about $17 billion) and a net income of ₹26,386 crore (around $3.2 billion). The bank is also involved in managing mutual funds and providing credit cards. Its leadership includes Amitabh Chaudhry as the Managing Director and CEO. Axis Bank is committed to innovation and customer service, making it a significant player in the Indian banking sector. You can learn more by visiting their official website.