Axis Bank, on Thursday reported a Q2 net profit at ₹6,918 crore, up 18% on a year-on-year (YoY) results basis and 15% sequentially, supported by steady margin and core income growth.

Shares of Axis Bank surged nearly 6% after reporting a 19.29% increase in net profit for the September quarter. The bank's core net interest income grew by 9%, and non-interest income rose by 34%. Axis Bank reported strong performance despite challenges in the unsecured lending segment.

Axis Bank shares gained attention after reporting an 18% rise in Q2 standalone net profit to Rs 6,918 crore. NII grew 9% YoY to Rs 13,483 crore, with a Net Interest Margin of 3.99%. Analysts maintain positive ratings,

ICICI Securities is bullish on Axis Bank recommended buy rating on the stock with a target price of Rs 1350 in its research report dated October 18, 2024.

India's Axis Bank reported a bigger-than-expected rise in second-quarter profit on Thursday, helped by higher core lending income. The country's fourth-largest private lender by market capitalisation said its standalone net profit - which excludes its subsidiaries - rose 18% to 69.

MUMBAI: The third largest private sector lender Axis Bank has reported an 18 percent on-year growth in net income at Rs 6,917.57 crore for the September quarter, driven by higher interest income as its loan sales rose which pushed its net interest income by a healthy 10 percent.

State-owned Central Bank of India on Thursday posted a 51 per cent jump in profit at Rs 913 crore in the second quarter ended September 2024. The lender had earned a net profit of Rs 605 crore in the same quarter a year ago.

Central Bank of India is currently trading at Rs. 58.92, up by 1.53 points or 2.67% from its previous closing of Rs. 57.39 on the BSE.

Axis Bank announced a larger-than-expected increase in second-quarter profit, buoyed by strong core lending income and rising credit demand. The fourth-largest private lender in India, by market capitalization,