Axis Bank Limited Q2 Results 2023

Read this story to learn about Q2- highlights, performance, earnings, dividend updates, market performance, etc.,

Highlights of the Result

· The total income of the company stood at ₹31,660.26 Cr · The net profit for Q2 FY’24 stood at ₹5,863.56 Cr · The net interest income (NII) stood at ₹12,314.56 Cr

Performance Highlights

· The Net interest income (NII) rose 18.9% YoY · The Profit after tax (PAT) saw a massive surge of 10% YoY · The core operating profit grew by 5% QoQ and 12% YoY to ₹8,733 Cr

Declining NPAs and Slippages

In Q2, the bank's asset quality improved, with gross non-performing assets (NPA) decreasing to ₹16,756.74 Cr, a 7.7% drop from the previous quarter.

Company’s Expenses

Subsequently, the expenses shot during the quarter. For the quarter under review, the company reported a total expense of ₹23,028.4 Cr

Source: Axis Bank Financial Report – Q2 Report, BSE