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Axis Bank's Q2 profit rises 38% to ₹7,003 crore; gross NPA 1.16%

Axis Bank reported standalone September-quarter net profit of ₹7,003.28 crore against ₹5,089.64 crore a year earlier, with gross NPA at 1.16%.

Price, Friday's close₹1,290.00▲ 0.16%
Last 5 days
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Private bank

What happened

  • Standalone net profit was ₹7,003.28 crore against ₹5,089.64 crore, according to Whalesbook, which put consolidated profit at ₹7,704.67 crore.
  • Gross NPA was 1.16% against 1.46% a year earlier and net NPA 0.35% against 0.44%, per Whalesbook. Business Upturn gave provisions and contingencies as ₹1,694 crore.
  • Business Upturn reported deposits up 21% and advances up 23% year on year, with core operating profit of ₹10,998 crore, up 11%.
  • The shares closed at ₹1,290 on Friday, up 0.16%, per Zerodha Kite, before the results.

Why it matters

Business Upturn reports profit up 38% and core operating profit up 11%; Whalesbook gives the profit as ₹7,003.28 crore against ₹5,089.64 crore.

Good to know: Core operating profit is a bank's income from its main business before it sets aside money for bad loans, which is why it can grow at a different pace from net profit.

Key facts

Standalone net profit
₹7,003.28 crore (₹5,089.64 crore), per Whalesbook
Consolidated net profit
₹7,704.67 crore (per Whalesbook)
Gross / net NPA
1.16% / 0.35% (per Whalesbook)
Core operating profit
₹10,998 crore, up 11% (per Business Upturn)

Read the source

This is a summary of public news about Axis Bank, for information only. It is not a recommendation to buy, sell or hold AXISBANK.

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