Axis Bank Q1 Review: Shares of Axis Bank fell 3.5 percent to Rs 702 in intraday trade on the BSE on Tuesday as investors rallied after a weak June ( Q1 FY23). Analysts described Axis’ previous earnings as “part of the release of income, part of the strengthening of the balance sheet.”
Axis Bank Q1FG23 Results: Report Rs. Benefits are 4125 crowns, with an increase of 91% per year
AXIS BANK Q1FY23 RESULTS: REPORTS RS.4125 CRORES PROFIT
Axis Bank, India’s third largest bank, today announced results for the first quarter of FY23, posting a net profit of Rs. 4125 crores against a profit of Rs. 2160 crore in the first quarter of The bank’s net interest income (NII) rose 21% YoY and 6% QoQ to Rs. 9,384 crores in FY23. 7,760 crore in the first quarter of Its net interest margin (NIM) stood at 3.60% in 1Q23, up 14 bps YoY and 11 bps QoQ. CASA increased by 16% YoY and 1% QoQ, while the CASA ratio was 43%, an improvement of 53 basis points annually. The bank’s income shows an increase of 11% from Rs. 11,119 crores in the first quarter of FY22. 12,383 crore in the first quarter of 23rd FY. As of June 30, 2022, the bank’s reported total NPAs and net NPAs stood at 2.76% and 0.64%, compared to 3.85% and 1.20% as of June 30, 2021. Then the bank’s income fees increased by 34% to Rs. 3576 Paris. Fees for retail services rose 43% year over year and accounted for 66% of total costs. The total capital adequacy ratio (CAR) and net profit in Q23 were 17.83% and the CET 1 ratio was 15.16%.