Axis Bank Q1FY25 Results
Axis Bank’s net revenues grew over 18% YoY
- 18 Oct 2024
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- Axis Bank’s consolidated net revenues (net interest income plus other income) increased by 3.7% quarter-on-quarter (QoQ) during the quarter ended Sept (Q2FY25). On a year-on-year (YoY) basis, it witnessed a growth of 18.4%.
- Provisions & contingencies increased by 8.2% QoQ and 166.9% YoY basis.
- While the net profit increased by 15% QoQ during the Sept 2024 quarter, it increased by 19.3% on a YoY basis.
Axis Bank’s financial statements for Q2FY25:
| (₹, crores) | Q2FY24 | Q1FY25 | Q2FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 33,122 | 37,796 | 39,204 | 3.7% | 18.4% |
Total expenses | 23,956 | 27,051 | 27,752 | 2.6% | 15.8% |
Provisions & contingencies | 852 | 2,102 | 2,275 | 8.2% | 166.9% |
Profit before tax | 8,314 | 8,643 | 9,177 | 6.2% | 10.4% |
Tax | 2,096 | 2,193 | 1,768 | -19.4% | -15.6% |
Profit after tax | 6,204 | 6,436 | 7,401 | 15.0% | 19.3% |
Earnings per share | 20 | 21 | 24 |
Financials:
H1FY25 Financial Performance
- Net Interest Income for H1FY25 grew 11% YOY to ₹26,931 crores from ₹24,273 crores.
- Fee income grew 13% YOY to ₹10,711 crores.
- Operating profit for H1FY25 grew by 19% to ₹20,819 crores from ₹17,446 crores.
- Operating profit for H1FY25 grew by 13% to ₹19,238 crores from ₹17,028 crores.
- Total provisions for H1FY25 stood at ₹4,243 crores.
- Net Profit for H1FY25 grew 11% to ₹12,952 crores from ₹11,661 crores in H1FY24.
Management Commentary:
Amitabh Chaudhry, MD & CEO, Axis Bank said:
- Balanced digital advancement with physical expansion, opening 150 new branches in urban and rural areas.
- Strengthened regional presence with a new Corporate Office in Kolkata, serving as the hub for Eastern India.
- Expanded 'Burgundy Private' private banking to 15 new cities, now present in 42 locations, offering bespoke wealth management services in Tier 2 markets.
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
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