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.

Axis Bank's consolidated net profit for the September quarter rose by 19.29 per cent to Rs 7,401.26 crore, but the lender reported a pain in the unsecured lending segment. On a standalone basis, the third largest private sector lender's net profit grew 18 per cent to Rs 6,

The net interest margin stood at 3.99% in the second quarter, down from 4.05% in the first quarter of the current fiscal.

Prabhudas Lilladher is bullish on Axis Bank has recommended buy rating on the stock with a target price of Rs 1530 in its research report dated October 18, 2024.

Axis Bank shares rallied 6 per cent on Friday as its net profit grew 18 per cent y-o-y on a standalone basis to ₹6,918 crore in Q2FY25. Brokerages have been bullish on the stock for its soft business growth and steady asset quality, while some have cut target prices.

Axis Bank's second quarter results showed a net profit of Rs 6,918 crore, up 18% year-on-year, exceeding the Bloomberg estimate of Rs 6,370 crore, according to an exchange filing. Sequentially, the bank's bottomline grew 15%.

The country's fourth-largest private lender by market capitalisation said its standalone net profit - which excludes its subsidiaries - rose 18% to 69.18 billion rupees ($823.25 million) for the quarter ended Sept.

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.