Axis Bank Q2 net profit jumps 38% to Rs 7,003 crore, misses estimates; NII beats poll, asset quality improves
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- ✓Axis Bank reported a 37.6 percent year-on-year increase in net profit to Rs 7,003.3 crore for the second quarter of FY27.
- ✓While the profit missed market estimates, the bank saw its net interest income rise to Rs 15,371.4 crore.
- ✓Asset quality also improved, as the gross non-performing assets ratio fell.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Moneycontrol.com
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
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Axis Bank on Saturday reported a 37.6 percent year-on-year increase in net profit to Rs 7,003.3 crore for the second quarter of FY27, falling short of market expectations. The private sector lender's net interest income (NII) rose 11.8 percent to Rs 15,371.4 crore, exceeding analysts' estimates, while asset quality improved during the quarter.
According to a CNBC TV18 poll, analysts had expected Axis Bank to report a net profit of Rs 7,132 crore, representing a 40 percent year-on-year increase. The reported profit was approximately 1.8 percent below the estimate. Meanwhile, NII exceeded the poll estimate of Rs 14,970 crore by approximately 2.7 percent.
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