Private lender Axis Bank on Saturday reported a 38% year-on-year (YoY) jump in net profit to ₹7,003 crore for the September quarter of FY27, compared with ₹5,090 crore in the year-ago period. The net interest income (NII) rose 12% to ₹15,371 crore from ₹13,745 crore.
The bank’s net interest margin (NIM) stood at 3.36% during the quarter. Operating profit increased 6% YoY to ₹11,083 crore, while core operating profit grew 11% to ₹10,998 crore, the lender said in its earnings report.
The bank’s other income declined 1% YoY to ₹6,531 crore, primarily due to an 83% drop in trading income to ₹85 crore. Fee income, however, rose 6% to ₹6,381 crore. Operating expenses increased 9% YoY to ₹10,819 crore.
For Q2FY27, provisions and contingencies amounted to ₹1,694 crore, including specific loan-loss provisions of ₹1,564 crore. The bank’s annualised credit cost stood at 0.45%.
On the asset quality front, the lender’s gross non-performing assets (GNPA) ratio eased to 1.16% from 1.46% a year ago and 1.28% in the June quarter. The net NPA ratio also declined to 0.35%, compared with 0.44% in the year-ago period and 0.39% in the preceding quarter. Fresh slippages moderated to ₹4,762 crore in Q2FY27, down from ₹5,566 crore in the previous quarter and ₹5,696 crore a year earlier.
Advances grow 23%, deposits rise 21%
Axis Bank’s advances grew 23% YoY and 9% quarter-on-quarter (QoQ) to ₹13.74 lakh crore as of September 30, 2026. Retail loans increased 16% YoY to ₹7.40 lakh crore, accounting for 54% of the bank’s net advances. Around 74% of the retail loan book comprised secured loans.
The SME loan book grew 25% YoY to ₹1.65 lakh crore, while the corporate loan book expanded 34%. The mid-corporate book rose 29% over the same period.
Total deposits increased 21% YoY and 6% QoQ to ₹20.46 lakh crore on a month-end basis. Current account deposits grew 7% YoY, savings account deposits rose 12%, and term deposits increased 27%. The current account and savings account (CASA) ratio stood at 36%.
H1FY27 net profit rises 30% to ₹14,117 crore
For the first half of FY27, Axis Bank’s net profit rose 30% YoY to ₹14,117 crore from ₹10,896 crore in the corresponding period last year. NII increased 10% to ₹30,018 crore, while fee income grew 6% to ₹12,536 crore.
Operating profit rose 4% YoY to ₹22,742 crore, while core operating profit increased 11% to ₹22,120 crore. Total provisions for the first half stood at ₹3,916 crore.
The bank’s balance sheet grew 22% YoY to ₹20.46 lakh crore at the end of September 2026.
Commenting on the quarter, Amitabh Chaudhry, Managing Director and Chief Executive Officer of Axis Bank, said the bank remained focused on combining innovation, trust and execution at scale. He highlighted its initiatives in digital payments, secure banking and artificial intelligence-driven innovation, along with efforts to expand its reach and strengthen customer propositions.