Axis Bank board to consider Q2 result on 26 Oct

The private sector lender announced that its board will consider the quarter and half year ended 30 September 2021 results on 26 October 2021.

Axis Bank reported a 94.2% jump in standalone net profit to Rs 2,160 crore on a 2.4% rise in total income to Rs 19,591 crore in Q1 FY22 over Q1 FY21. The bank's net interest income (NII) grew 11% year on year (YoY) to Rs 7,760 crore from Rs 6,985 crore in Q1FY21. Net interest margin (NIM) for Q1 FY22 stood at 3.46%.

On the asset quality front, as on 30 June 2021, the bank's reported Gross NPA and Net NPA levels were at 3.85% and 1.20% respectively as against 3.70% and 1.05% as on 31 March 2021. Gross slippages during the quarter were at Rs 6,518 crores, compared to Rs 5,285 crores during Q4FY21 and Rs 2,218 crores in Q1FY21.

Axis Bank offers the entire spectrum of financial services to customer segments covering large and mid-corporates, MSME, agriculture and retail businesses. As on 30 June 2021, the bank had a network of 4,600 domestic branches and extension counters situated in 2,628 centres.

Shares of Axis Bank closed 1.74% lower at Rs 798.20 on Friday.

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