Axis Bank reported its Q3 financial results, showing modest year-on-year growth and strong quarter-on-quarter improvement in profitability, while asset quality remained largely stable.
On a standalone basis, the bank’s pre-provision operating profit (PPOP) came in at ₹10,875.70 crore, compared with ₹10,533.85 crore in the same quarter last year. This reflects a year-on-year increase of 3.25% and a quarter-on-quarter rise of 4.45%.
Standalone profit after tax (PAT) stood at ₹6,489.57 crore, up from ₹6,303.77 crore in Q3 of the previous year, registering a year-on-year growth of 2.95%. On a sequential basis, PAT increased by 27.51%.
Net interest income (NII) for the quarter was reported at ₹14,287 crore, compared with ₹13,606 crore in the corresponding quarter last year, marking a year-on-year growth of approximately 5.00%.
On a consolidated basis, Axis Bank posted a PAT of ₹7,010.65 crore, compared with ₹6,742.29 crore a year ago. This represents a year-on-year increase of 3.98%, while quarter-on-quarter growth stood at 26.82%.
Asset quality metrics showed limited movement during the quarter. Gross non-performing assets (GNPA) declined to 1.40%, compared with 1.46% both year-on-year and quarter-on-quarter. Net non-performing assets (NNPA) were reported at 0.42%, compared with 0.35% in the year-ago period and 0.44% in the previous quarter.
