<p><a href="https://www.mid-day.com/business/business-news/article/axis-bank-q1fy27-net-profit-jumps-23-per-cent-at-rs-7114-crore-23640394" target="_blank" rel="none noopener">Private sector lender Axis Bank</a> on Saturday posted a 37.6 per cent increase in standalone net profit to Rs 7,003.28 crore for the second quarter of the financial year ended September 30.</p>
<p>It had registered a standalone net profit of Rs 5,089.64 crore in the corresponding quarter last year.</p>
<p>In a regulatory filing, Axis Bank said its operating profit increased 6 per cent to Rs 11,083.08 crore for the second quarter of the current financial year.</p>
<p>Core operating profit, excluding trading income jumped 11 per cent to Rs 10,998 crore, while the core operating income excluding trading income grew 10 per cent to Rs 21,817 crore. Operating expenses rose 9 per cent year-on-year in Q2FY27 to Rs 10,819 crore.</p>
<h2>Net interest income and net interest margin</h2>
<p>The bank's net interest income (NII) for Q2 FY27 stood at Rs 15,371 crore, a 12 per cent rise over last year and a 5 per cent growth on a sequential basis. Net interest income is the difference between interest earned and interest paid, a key metric to understand a bank&rsquo;s financial stability.&nbsp;</p>
<p>Net interest margin, a key financial metric to understand a bank&rsquo;s profitability, stood at 3.36 per cent. Excluding the impact of <a href="https://www.mid-day.com/business/business-news/article/india-may-receive-fcnr-b-deposits-up-to-usd-85-billion-sbi-report-23641803" target="_blank" rel="none noopener">FCNR (B) deposits,</a> NIM at 3.47 &nbsp;per cent, it said.</p>
<h2>Deposits and advances</h2>
<p>Advances during the quarter under review grew 23 per cent to Rs 13,73,727 crore from last year. It gained 9 per cent on a sequential basis.&nbsp;</p>
<p>Retail loans grew 16 per cent to Rs 7,39,905 crore during the September quarter this fiscal from the year ago period, Retail loans accounted for 54 per cent of the net advances.&nbsp;</p>
<p>The bank's total deposits grew 21 per cent over last year to Rs 14,52,066 crore. The bank's CASA ratio stood at 36 per cent.</p>
<p>The savings bank account deposits stood at Rs 3,56,468, while the current account deposits were at Rs 1,73,071 crore.</p>
<h2>Asset quality</h2>
<p>In terms of asset quality, the bank's <a href="https://www.mid-day.com/mumbai/mumbai-news/article/rbi-report-says-npas-of-indian-banks-fell-to-multi-decadal-low-of-2-1-per-cent-23609794" target="_blank" rel="none noopener">gross non-performing asset (GNPA)</a> ratio stood at 1.16 per cent, down 0.30 per cent year-on-year. On a sequential basis too it declined 0.12 per cent. &nbsp;Net NPA ratio fell to 0.35 per cent from 0.44 per cent a year earlier.</p>
<p>"Gross slippages during the quarter were Rs 4,762 crore, compared to Rs 5,566 crore in Q1FY27 and Rs 5,696 crores in Q2FY26," it said.</p>

The bank`s operating profit increased 6 per cent to Rs 11,083.08 crore during Q2FY27, it said in a regulatory filing

Axis Bank Q2FY27 net profit rises 37.6 per cent to Rs 7,003.28 crore

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In a regulatory filing, Axis Bank said its operating profit increased 6 per cent to Rs 11,083.08 crore for the second quarter of the current financial year

Axis Bank Q2FY27 standalone net profit jumps 37.6 per cent to Rs 7,003.28 crore

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Home / Business / Business News / Article / Axis Bank Q2FY27 standalone net profit jumps 37.6 per cent to Rs 7,003.28 crore