Axis Bank Share Price Climbs 4.58% Following 18% YoY Net Profit Growth in Q2FY25

Axis Bank Limited recently announced its financial results for the quarter and half year ending September 30, 2024, showcasing robust growth across various metrics. 

The bank reported an operating profit of ₹10,712 crore for Q2FY25, marking an increase of 24% year-on-year (YoY) and 6% quarter-on-quarter (QoQ). Notably, the core operating profit, which excludes trading profit, grew by 10% YoY, reaching ₹9,601 crores. 

Operating costs increased at a moderated rate of 9% YoY in Q2FY25, down from 11% in the previous quarter. The net profit also saw a healthy rise, increasing by 18% YoY and 15% QoQ to ₹6,918 crores. This strong performance was further supported by a 9% YoY growth in Net Interest Income (NII), which totalled ₹13,483 crores for the quarter, while the Net Interest Margin (NIM) stood at a stable 3.99%.

The bank’s balance sheet demonstrated solid growth, expanding by 12% YoY to reach ₹15,05,658 crores as of September 30, 2024. Total deposits grew by 14% YoY, driven by an increase in term deposits, which rose by 21% YoY and 4% QoQ. In terms of composition, the share of CASA (Current Account, Savings Account) deposits accounted for 41% of total deposits.

Notably, in Q2 FY 2025, Axis Bank issued approximately 1.06 million new credit cards, maintaining its position as one of the top credit card issuers in the country over the past eleven quarters. 

On October 18, 2024, Axis Bank share price opened at ₹1,158.00, up from its previous close of ₹1,131.85. By 10:16 AM, the share price rose to ₹1,183.65, reflecting an increase of 4.58%. 

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