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Company News Details

Axis Bank Ltd
Industry :  Banks - Private Sector
BSE Code
ISIN Demat
Book Value()
532215
INE238A01034
553.3476292
NSE Symbol
P/E(TTM)
Mar.Cap( Cr.)
AXISBANK
11.59
305894.85
EPS(TTM)
Face Value()
Div & Yield %
85.24
2
0.1
 

axis bank ltd
Axis Bank Q3 PAT rises 4% YoY to Rs 6,304 cr
Jan 17,2025
The counter slumped 5.28% to Rs 985.25 on the BSE. Axis Bank's Q3 results, which fell short of analyst expectations across all key metrics, triggered downgrades. Key concerns included higher slippages driven by agriculture and unsecured loans, elevated credit costs remaining the highest among the top 5 banks, and the slowest deposit growth compared to peers. While Q3 earnings appeared in line due to lower operating expenses offsetting higher provisions, analysts anticipate some weakness in the stock price. A domestic brokerage noted a slight deterioration in asset quality, with sequential increases in slippages, although NPA ratios remained relatively stable.

In Q3 FY25, profit before tax (PBT) increased 3.27% YoY to Rs 8,378.22 crore.

The bank’s operating profit before provisions & contingencies jumped 15.23% to Rs 10,533.85 crore in Q3 FY25 as compared with Rs 9141.24 crore in Q3 FY24. Provisions & contingencies jumped zoomed 109.62% to Rs 2,155.63 crore in Q3 FY25 as against Rs 1,028.34 crore in Q3 FY24.

Net interest income (NII) grew 9% YoY to Rs 13,606 crore. Net Interest Margin (NIM) stood at 3.93% in Q3FY25.

Total deposits stood at 10,95,883 crore in Q3 FY25 during the quarter, up 9% YoY.

CASA Deposits increased 2% to Rs 4,32,855 crore in Q3 FY25 as compared with Rs 423,458 crore in Q3 FY24. CASA deposits constitute 39% of the total deposits as of 31st December 2024.

Net advances increased 9% to Rs 10,14,564 crore as on 31st December 2024 as compared with Rs 932,286 crore as on 31st December 2023. Retail loans grew 11% YoY to Rs 6,05,825 crore and accounted for 60% of the net advances of the Bank, SME book remains well diversified across geographies and sectors, grew 15% YoY to Rs 1,14,101 crore, Corporate loan book grew 3% YoY to Rs 294,638 crore duirng the period under review.

In Q3FY25, gross slippage ratio stood at 2.13%, Net slippage ratio was at 1.40%, Net credit cost stood at 0.80%.

The bank’s gross non-performing (GNPA) stood at Rs 15,850.27 crore as on 31st December 2024 as against Rs 15,893.01 crore as on 31st December 2023.

The ratio of gross NPAs reduced to 1.46% as on 31st December 2024 as against 1.58% as on 31st December 2023. Net NPAs reduced to 0.35% as on 31st December 2024 as against 0.36% as on 31st December 2023.

As on December 2024, capital adequacy ratio (basel III) stood at 17.01%. Tier I was at 15.01% and Tier II at 2.00%.

The bank's return on average assets (ROA) and Return on equity (ROE) stood at 1.64% and 15.37%, respectively in the quarter ended 31st December 2024.

Axis Bank is the third-largest private sector bank in India. During the quarter, the bank added 130 branches taking its overall distribution network to 5,706 domestic branches and extension counters situated across 3,122 centres and 14,476 ATMs and cash recyclers spread across the country. The bank's Axis Virtual Centre is present across six centres with over 1,700 virtual relationship managers as on December 2024.

The counter declined 5.28% to Rs 985.25 on the BSE.
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