Net interest income rose 11.8% YoY to ₹15,372 crore, eclipsing the ₹14,970 crore consensus and marking the highest core income in the quarter.
But profit fell short of expectations: net profit dipped to ₹7,003 crore, a 37.6% YoY gain, yet still below the ₹7,132 crore estimate.
Asset quality held steady. Gross NPA dropped to ₹16,778 crore from ₹17,124 crore, while net NPA fell to ₹5,054 crore from ₹5,192 crore. In percentages, gross NPA fell to 1.16% and net NPA to 0.35% versus 1.28% and 0.39% in June.
Provisions shrank to ₹1,694 crore, down from ₹2,223 crore in June and ₹3,547 crore a year ago, leaving cumulative provisions at ₹15,860 crore.
Credit growth accelerated. Gross advances surged 22.7% YoY to ₹13,846 crore and deposits rose 20.7% to ₹14,521 crore. The bank mobilised $10.62bn FCNR deposits, offsetting an 8.6% sequential decline in non‑retail term deposits.
Looking ahead, Axis Bank has not issued new guidance, but analysts anticipate a focus on tightening provisioning and improving asset quality before the next quarter’s results. The stock closed near ₹1,290, barely moving from pre‑results, signalling cautious sentiment.