Following the release of Axis Bank’s first-quarter FY25 earnings report, the private sector lender’s stock fell more than 5% in early trading on Thursday. On the BSE, Axis Bank shares dropped as much as 5.76% to Rs 1,168.25 a share.
In the quarter that ended in June 2024, Axis Bank reported a net profit of ₹6,035 crore, an increase from ₹3,452 crore in the same period in the previous fiscal year. In the March quarter, the bank’s net profit was ₹7,130 crore, a 15% decrease.
Year-on-year (YoY), net interest income (NII) increased to Rs13,448 crore in Q1FY25 from Rs 11,959 crore, but net interest margin (NIM) decreased to 4.05% from 4.10% in the previous year.
The gross non-performing assets (NPA) ratio grew 11 basis points (bps) to 1.54%, while the net NPA ratio jumped 3 bps to 0.34%, indicating a weakening of the bank’s asset quality.
Axis Bank shares were down 5.76% at Rs 1,167.90 on the NSE as of 10:05 AM.
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