Axis Bank Q1FY25 Quarter Results
Axis Bank’s net revenues grew over 18% YoY
- 2d ago
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- Axis Bank’s consolidated net revenues (net interest income plus other income) decreased a tad by 0.1% quarter-on-quarter (QoQ) during the quarter ended June (Q1FY25). On a year-on-year (YoY) basis, it witnessed a growth of 18.5%.
- Provisions & contingencies increased by 72.7% QoQ and 98.2% YoY basis.
- While the net profit decreased by 15.3% QoQ during the June 2024 quarter, it increased by 5.7% on a YoY basis.
Axis Bank’s financial statements for Q1FY25:
| (Rs, crores) | Q1FY24 | Q4FY24 | Q1FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 31,894.2 | 37,836.1 | 37,795.9 | -0.1% | 18.5% |
Total expenses | 22,642.5 | 26,634.5 | 27,051.0 | 1.6% | 19.5% |
Provisions & contingencies | 1,060.1 | 1,216.8 | 2,101.5 | 72.7% | 98.2% |
Profit before tax | 8,191.6 | 9,984.9 | 8,643.3 | -13.4% | 5.5% |
Tax | 2,092.7 | 2,371.3 | 2,193.3 | -7.5% | 4.8% |
Profit after tax | 6,091.4 | 7,599.0 | 6,436.4 | -15.3% | 5.7% |
Earnings per share | 19.7 | 24.5 | 20.7 |
Financials:
- Net Profit: Rs 6,035 crore, a 4% increase from Rs 5,797 crore year-over-year.
- Interest Income: Rs 30,061 crore, an 18% increase from Rs 25,557 crore in the same quarter last year.
- Net Interest Income (NII): ₹13,448 crore, a 12% increase from ₹11,958 crore in Q1FY24
- Operating Profit: ₹10,106 crore, a 15% increase YoY.
- Core Operating Profit: ₹9,637 crore, rising 16% YoY.
- Net Interest Margin (NIM): 4.05% for Q1FY25.
- Interest Expenses: Rs 16,613 crore, a 22% increase from Rs 13,598 crore YoY.
Management Commentary:
- Axis Bank’s MD & CEO Amitabh Chaudhry highlighted the significance of the last quarter in coordinating efforts for the final phase of the Citi integration.
- “I am delighted that the integration is complete and was largely seamless, considering the size and scale of the transition,” Chaudhry said.
- He added that the teams for their tireless efforts and to the 2 million new customers for their trust and faith in the bank
Data Source: BSE, Company announcements
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