Axis Bank Q3 earnings: Private sector lender Axis Bank on Thursday reported a 4.49% rise in standalone net profit for the December 2024 quarter. Profit climbed to Rs 6304 crore in the third quarter against Rs 6,071 crore in the Q3 of previous fiscal. Net interest income (NII) rose 9% YOY to Rs 13,606 crore from Rs 12,532 crore in the Q3 of previous fiscal. Net Interest Margin (NIM) for Q3FY25 stood at 3.93%.
Operating profit climbed 15.23% to Rs 10,534 crore in the last quarter against Rs 9141.24 crore in the third quarter of the previous fiscal.
Gross non-performing assets (GNPAs) came at 1.46% in Q3 falling 12 bps from 1.58% in December 2023 quarter. Net non performing assets (NNPAs) stood at 0.35% in the last quarter against 0.36% in the corresponding quarter of the previous fiscal.
Interest earned in Q3 climbed to Rs 30,954 crore against Rs 27961.14 crore in the corresponding quarter of the previous fiscal.
Total deposits of the lender rose 9% to Rs 10.95 lakh crore in Q3 against Rs 10.04 lakh crore in the corresponding quarter of the previous fiscal. Net advances or loans given by the lender in the last quarter climbed 9% to Rs 10.14 lakh crore against Rs 9.32 lakh crore in Q3 of the previous fiscal.
The earnings were announced after market hours today. Axis Bank stock closed 1.25% higher at Rs 1,040.20 on BSE. Market cap of the lender rose to Rs 3.21 lakh crore.