Axis Bank Q2FY23 Results: Private sector lender Axis Bank on Thursday posted a net profit of Rs 5,329.8 crore for the September 2022 quarter (Q2FY23), a jump of 70.1 per cent as compared with the Rs 3,133.3 crore recorded a year ago. Axis Bank’s net interest income (NII) during July-September 2022 grew 31.12 per cent year-on-year to Rs 10,360 crore, compared with Rs 7,901 crore in the year-ago quarter.
Axis Bank’s core operating profit for the September 2022 quarter grew 43 per cent YoY and 19 per cent QoQ to Rs 7,802 crore, respectively. Operating profit for the quarter grew 30 per cent YoY and 31 per cent QoQ to Rs 7,716 crore.
In the September 2021 quarter, Axis Bank had posted a net profit of Rs 3,133.3 crore, an operating profit of Rs 5,928.2 crore, an NII of Rs 7,900.3 crore, and net interest margin (NIM) of around 3.3 per cent.
Axis Bank MD & CEO Amitabh Chaudhry said, “In the past 12 months, we have made significant strides across every identified priority area. The focus on customer obsession and digitisation has got our acquisition engine humming. The core operating profits and margins have grown on the back of strong performance across business segments.”
He added that the bank is building a high-quality, granular franchise with the customer at the centre, while extending our network and services to semi-urban and rural geographies to tap into the Bharat opportunity.
Shares of Axis Bank on Thursday fell 0.42 per cent, or Rs 3.45, to close at Rs 826.2 apiece on the BSE.
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