Axis Bank's shares rallied as much as 6.3 per cent intraday on Friday though it reported subdued results for the September quarter of 2024-25 (Q2FY25). The stock hit an intraday high of ₹1,203.7 per share on the BSE, before settling 5.6 per cent higher at ₹1,195.7 apiece, as analysts see limited valuation downside in the stock from current levels. By comparison, the benchmark BSE Sensex closed 0.27 per cent higher. Brokerages, however, have cut their earnings forecast by up to 5 per cent over FY25-27 to factor in Q2 results.
Q2 hits and misses
Axis Bank reported a mixed set of earnings in Q2FY25, according to analysts. Net profit, which beat estimates, was aided by a one-time tax provision reversal (of ₹550 crore) and stood at ₹6,918 crore compared to ₹5,864 crore in Q2FY24.
The lender's pace of loan growth slowed to 11 per cent year-on-year (Y-o-Y) in Q2FY25, compared to 14 per cent Y-o-Y growth in Q1. Quarter-on-quarter (Q-o-Q), loans were up barely 2 per cent. Retail loans were up 2 per cent Q-o-Q, small and medium enterprises (SME) loans rose 6 per cent and corporate loans were flat.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
India may become global leader in 5G FWA mkt by 2027
India is expected to become the world's largest 5G fixed wireless access (FWA) market by 2027 with over 30 million subscribers and overtake the US, the current global leader with 15 million subscribers, according to Counterpoint Research.
Crypto or not: Industry to focus on user protection, licensing regime
A consultation paper on the crypto sector is expected to suggest clarity on regulations after WazirX breach, says CoinSwitch co-founder
Pant, Iyers knock it out of the park
IPL Mega Auction: Star wicket-keeper most expensive player at ₹27 cr; Shreyas, Venkatesh bag hefty pay cheques
Eastern states are country's growth engine, says Modi
Prime Minister Narendra Modi asserted on Sunday that his government considers India's eastern region as the country's growth engine, while the area was considered backward earlier.
The other side of financialisation
There's been a dramatic rise in loans against gold in the past one year, but growth in unsecured loans is slowing. Bank loans to the NBFC sector have also dipped
Demand for super top-up health insurance plans rises after Covid
Demand for super top-up plans in health insurance has increased significantly post the Covid-19 pandemic, owing to a rise in medical costs and increased insurance awareness in the country, industry insiders have said.
Countdown to Feb 1 begins
FY26 Budget will come only six months after the last one, but has all the signs of becoming a hallmark document
Greening AI for sustainable computing
Technologies are providing solutions to many business and social problems. However, the solution itself is becoming a problem for climate action.
Agentic AI: The next frontier
A new iteration of AI is now taking the world by surprise. Agentic AI can take its own decisions. ARYAMAN GUPTA & SHIVANI SHINDE report
Visit developer's past projects to evaluate service standards
Renting temporarily can be useful to assess suitability before committing to purchase
