Axis Bank Reports 38% Surge in Q2 Net Profit to ₹7,003 Crore
In a strong performance for Q2 FY27, Axis Bank's net profit soared to ₹7,003 crore, reflecting a significant year-on-year increase.
Axis Bank's net profit increased by 38% YoY to ₹7,003 crore in Q2 FY27.
Net interest income rose 12% YoY, reaching ₹15,371 crore.
The bank's gross non-performing asset ratio improved to 1.16%, down 30 bps YoY.
Axis Bank has announced a remarkable net profit of ₹7,003 crore for the second quarter of the financial year 2027, marking a significant 38% increase compared to ₹5,089 crore reported in the same quarter last year. This strong financial performance underscores the bank's robust growth trajectory and effective management strategies.
In terms of net interest income (NII), Axis Bank reported a 12% year-on-year growth, totaling ₹15,371 crore, with a net interest margin of 3.36% for the quarter. The bank's gross non-performing asset (GNPA) ratio improved to 1.16%, reflecting a decrease of 30 basis points from the previous year, while the net NPA ratio also saw a decline to 0.35%.
The bank's advances grew by 23% year-on-year and 9% quarter-on-quarter, indicating strong demand for loans. Operating profit for the quarter rose by 6% to ₹11,083 crore, with core operating profit increasing by 11% to ₹10,998 crore. Provisions for the quarter were reported at ₹1,694 crore, which included specific loan loss provisions of ₹1,564 crore.
For the first half of FY27, Axis Bank's NII increased by 10% to ₹30,018 crore, while fee income grew by 6% to ₹12,536 crore. The net profit for this period was ₹14,117 crore, a 30% increase from ₹10,896 crore in the previous year. The bank has also mobilized $10.62 billion in FCNR (B) deposits, contributing to its liquidity management.
Looking ahead, Axis Bank's CEO Amitabh Chaudhry emphasized the bank's commitment to innovation and customer satisfaction, particularly in digital banking and secure transactions. The bank aims to continue leveraging technology and strategic partnerships to enhance its service offerings and maintain its competitive edge in the banking sector.
