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Axis Bank Q2 Results FY24-25 Highlights: Operating Revenue Up by 16% YoY, PAT Jumps by 18%

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Synopsis:

In Q2 FY24-25, Axis Bank showcased a strong financial performance, reporting a consolidated profit surge and steady growth across multiple metrics. The bank's efforts in expanding its digital presence and growing its core segments contributed significantly to this impressive quarter.

Key Highlights/Quick Insights

  • Operating Profit: Up by 24% year-on-year (Y-o-Y), standing at ₹10,712 crore.
  • Net Profit: ₹6,918 crore, an 18% increase Y-o-Y.
  • Net Interest Income (NII): ₹13,483 crore, a growth of 9% Y-o-Y.
  • Net Advances: ₹9,99,979 crore, up by 11% Y-o-Y.
  • CASA Deposits: ₹4,41,053 crore, representing 41% of total deposits.
  • Gross NPA: Reduced to 1.44%, a decline of 29 bps Y-o-Y.

These consolidated results reflect Axis Bank’s strategic focus on maintaining operational efficiency and asset quality while expanding its core business.

Quarterly - Axis Bank Q2 Results FY24-25

Axis Bank reported an operating profit of ₹10,712 crore, reflecting a 24% Y-o-Y growth. The consolidated net profit for the quarter rose by 18% Y-o-Y, reaching ₹6,918 crore. This was driven by a 9% growth in Net Interest Income (NII), which stood at ₹13,483 crore for Q2 FY24-25.

The bank continued to witness strong deposit growth, with total deposits reaching ₹10,86,744 crore, a 14% Y-o-Y increase. Retail loans also surged by 15% Y-o-Y, underscoring the bank’s focus on expanding its core banking segments.

Segment Highlights

  • Retail Banking: ₹5,98,715 crore, a growth of 15% Y-o-Y.
  • Corporate Loans: ₹2,90,790 crore, up by 3% Y-o-Y.
  • SME Loans: ₹1,10,474 crore, a 16% increase Y-o-Y.

Axis Bank’s retail and SME segments performed exceptionally well, contributing significantly to the overall growth of the bank.

AXIS BANK LIMITED

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1148.152.50 (0.21 %)

Updated - 13 December 2024
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Detailed Financial Table:

Particulars

Q2 FY24-25 (₹ in Cr)

Q2 FY23-24 (₹ in Cr)

Y-o-Y Growth (%)

Operating Revenue

20,205

17,349

16%

Operating Profit

10,712

8,632

24%

Net Profit

6,918

5,864

18%

Net Interest Income (NII)

13,483

12,315

9%

Other Income

6,722

5,034

34%

Operating Expenses

9,493

8,717

9%

Net Advances

9,99,979

8,97,347

11%

Total Deposits

10,86,744

9,55,556

14%

CASA Deposits

4,41,053

4,23,866

4%

Gross NPA (%)

1.44%

1.73%

29 bps Improvement

Net NPA (%)

0.34%

0.36%

2 bps Improvement

Capital Adequacy Ratio

16.61%

17.84%

-123 bps

Return on Assets (ROA)

1.84%

1.76%

8 bps Improvement

Return on Equity (ROE)

17.58%

18.30%

-72 bps

Sector Expectations for Axis Bank Q2 Results FY24-25

The bank’s Q2 results met and, in many cases, exceeded sector expectations. The Gross NPA ratio improved to 1.44%, while the Net NPA ratio stood at 0.34%. The bank's capital adequacy ratio (CAR) was maintained at a healthy 16.61%, ensuring adequate capital buffers. These strong financials reinforce Axis Bank’s position as one of the leading players in the banking sector.

Management Commentary

Amitabh Chaudhry, the MD & CEO of Axis Bank, commented on the strong performance, emphasizing the bank’s focus on balancing digital advancements with physical expansion. He highlighted the bank’s efforts in maintaining asset quality and driving growth through retail, SME, and corporate segments.

Source: Axis Bank Q2 Results FY’24-25 Press Release Submitted on BSE. 

Check out Axis Bank’s past performances in previous quarters and financial years.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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