{"id":3069,"date":"2024-07-24T11:23:28","date_gmt":"2024-07-24T11:23:28","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=3069"},"modified":"2024-07-24T11:23:28","modified_gmt":"2024-07-24T11:23:28","slug":"axis-bank-q1-net-profit-spurts-to-%e2%82%b96035-crore","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/axis-bank-q1-net-profit-spurts-to-%e2%82%b96035-crore\/","title":{"rendered":"Axis Bank Q1 Net Profit spurts to \u20b96,035 crore"},"content":{"rendered":"\n<p>Axis Bank posted a net profit of \u20b96,035 crore for the first quarter of fiscal year 2025, compared with \u20b93,452 crore in the corresponding period last year. On top of that, this income statement had been standing higher compared to the expectations of eight brokerages, which estimated a net profit of \u20b95,797 crore. Sequentially, though, the bank&#8217;s profit fell 15 per cent from \u20b97,130 crore in the last quarter.<\/p>\n\n\n\n<p>Notwithstanding the profit growth, Axis Bank reported a slight deterioration of its asset quality. Gross non-performing assets rose 11 bps to 1.54 percent and net NPAs increased by 3 bps to 0.34 percent. On a year-over-year basis, the bank&#8217;s GNPA and NNPA improved by 42 bps and 7 bps, respectively.<\/p>\n\n\n\n<p>Its NII for Q1 rose to \u20b9 13,448 crore from \u20b9 11,959 crore a year ago, against brokerage estimates of \u20b9 13,361 crore. Bottom line: Net interest margin was down a tad from a year ago figure of 4.10% at 4.05%.<\/p>\n\n\n\n<p>The last quarter was important from the standpoint of getting all the teams together for the last leg of Citi integration. I am ecstatic that the integration is done, and it was largely seamless given the size and scale of the transition,&#8221; says Amitabh Chaudhry, MD &amp; CEO of Axis Bank. Net profit rose by 13% over the previous year, total deposits by 13% year on year, current account deposits by 12%, and total term deposits by 20%. The CASA in total deposits was at 42%.<\/p>\n\n\n\n<p><em>Do you have a news tip for Lakshmishree reporters? Please email us at\u00a0<a href=\"mailto:media@lakshmishree.com\" target=\"_blank\" rel=\"noreferrer noopener\">media@lakshmishree.com<\/a><\/em><\/p>\n\n\n\n<p><sub><sup>Source: <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/earnings\/axis-bank-q1-results-april-june-net-profit-rises-to-rs-6035-crore-beats-estimates-12776888.html#google_vignette\" data-type=\"link\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/earnings\/axis-bank-q1-results-april-june-net-profit-rises-to-rs-6035-crore-beats-estimates-12776888.html#google_vignette\" target=\"_blank\" rel=\"noopener\">Moneycontrol<\/a><\/sup><\/sub><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Axis Bank posted a net profit of \u20b96,035 crore for the first quarter of fiscal year 2025, compared with \u20b93,452 crore in the corresponding period last year. On top of that, this income statement had been standing higher compared to the expectations of eight brokerages, which estimated a net profit of \u20b95,797 crore. Sequentially, though, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[62],"tags":[131],"class_list":["post-3069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-results","tag-axis-bank-q1-profit"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=3069"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3069\/revisions"}],"predecessor-version":[{"id":3073,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/3069\/revisions\/3073"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/3074"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=3069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=3069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=3069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}