The share value of this leading private banking firm tumbled around 7 percent to an intraday low of Rs 1,156 apiece after the firm’s net profits fell by 15.2 percent as of Q1FY25.
Share price movement:
With the market capitalization of Axis Bank Limited standing at Rs 3,58,211 crores, the shares tumbled around 7 percent at 11:38 am. Axis limited stocks have provided 20 percent returns for the past year and 11 percent returns over the last 6 months.
Results:
As per the Consolidated financials of Axis Bank Limited on a QoQ basis, the net interest income increased by 3 percent from Rs 13,503 crores in Q4FY24 to Rs 13,897 crores in Q1FY25. For the same time frame, the net profits of the firm decreased from Rs 7,613 crores to Rs 6,450 crores demonstrating a 15.2 percent fall.
Ratios:
The return on equity generated by Axis Limited as of 2024 stood at 18.43 percent. As for the same year, the net profit margin of the firm recorded is 0.30 percent. The price-to-earnings ratio of Axis Bank Limited stands at 12.26 times for the year 2024.
EPS:
The earnings per share of Axis Bank Limited increased by 141 percent from Rs 35.20 in March 2023 to Rs 86 in March 2024.
Asset quality:
Axis Bank reported a gross NPA and a net NPA of 1.54 percent and 0.34 percent respectively for the period 30th June 2024, compared to a gross NPA and a net NPA of 1.43 percent and 0.31 percent for the period 31st March 2024.
Credit cost:
The annualized credit cost of Axis Bank Limited which is the expense it occurs due to unpaid loans as of Q1FY25 stood at 0.97 percent from a credit cost of 0.32 percent in Q4FY24.
Asset under management:
The assets under management (AUM) of Axis Bank Limited stood at Rs 5.99 Lakh crores as of Q1FY25 from a total AUM of 4.29 Lakh crores as of Q1FY24.
Network:
Axis Bank Limited has added 50 branches to its network as of the latest June quarter and its overall distribution network stands at 5,427 domestic branches. As of 30th June 2024, the bank had 15,014 ATMs and cash recyclers located throughout the country.
Shareholding Pattern:
As of June 2024, the FIIs hold a 53.4 percent stake in the bank followed by DIIs who have 31.63 percent stake. In addition to that, LIC holds an 8.31 percent stake in the bank.
About the Company:
Incorporated in the year 1993 and headquartered in Mumbai, Axis Bank Limited is a private bank offering a spectrum of financial services to customer segments covering large and mid-corporates, MSMEs, and agriculture and retail businesses. Axis Bank has the third-largest branch network among private sector banks and an international presence in DIFC (Dubai), Singapore, Abu Dhabi, Sharjah, Dhaka, Dubai, and GIFT City.
Written By Zahal
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