Axis Bank has recently released its financial results for the second quarter of the fiscal year. The bank’s profit has seen a significant increase of 10% in the quarter ending in September. The annual basis profit has surged from INR 5,329.8 crores to INR 5,863.6 crores.

Additionally, the bank has witnessed a 19% increase in interest income during the September quarter. The Net Interest Income (NII) has risen from INR 10,360 crores to INR 12,314.6 crores.

Looking at the Gross NPA (Non-Performing Assets) ratio, it has decreased from 1.96% to 1.73% on a quarterly basis. Similarly, the Net NPA ratio has reduced from 0.41% to 0.36% on a quarterly basis.

The bank’s advances have also seen a significant annual increase of 23%, totaling INR 8,97,000 crores. On the deposit front, Axis Bank is currently holding INR 9,55,000 crores in deposits, compared to INR 8,11,000 crores in the same quarter of the previous fiscal year.

When it comes to domestic bank loans, there has been a substantial 26% annual growth, while retail loans have shown a remarkable 23% increase, reaching INR 5,19,000 crores.

As of Wednesday, October 25, 2023, Axis Bank’s shares closed at INR 955.35 on the BSE, reflecting a 0.84% decrease. Looking at the 52-week performance, the highest level reached by Axis Bank’s shares was INR 1,047.45, while the lowest point was INR 814.25.

Axis Bank
Axis Bank

Over the past six months, Axis Bank’s shares have exhibited a growth of approximately 7.61%.

These results indicate a positive trend for Axis Bank, with significant improvements in profit, interest income, and loan portfolio, though the stock has seen some fluctuations in the market over the past year. Investors and analysts will be closely monitoring the bank’s performance in the coming quarters.

Sonu Roy is originally a resident of Samastipur district of Bihar, has been working as a writer in digital journalism for the last 4 years. In his career of 4 years, he has good experience from politics, automobile, motivation, sports to technology field.