Axis Bank shares pop over 4% post Q2 earnings announcement

The stock climbed 4.11% to ₹1,178.75 on the BSE.

It emerged as the biggest gainer among the BSE Sensex firms.

At the NSE, it surged 4.13% to ₹1,178.70.

Axis Bank's consolidated net profit for the September quarter rose by 19.29% to ₹7,401.26 crore, but the lender reported a pain in the unsecured lending segment.

On a standalone basis, the third largest private sector lender's net profit grew 18% to ₹6,917.57 crore in the July-September quarter of FY2024-25.

The bank, which is among the first major lenders to report its earnings for the quarter, saw the core net interest income grow by 9% to ₹13,483 crore during the quarter on the back of an 11% increase in the net advances and the net interest margin narrowing by 0.12% to 3.99%.

The non-interest or other income shot up 34% to ₹6,722 crore, helped majorly by a ₹1,111 crore gain on the trading income front.

The bank managed a 14% growth in the total deposit front and made it clear that it is not using price as a lever to attract liabilities.

Its total income increased to ₹37,142 crore during the quarter under review against ₹31,660 crore in the same period last year, Axis said in a regulatory filing on Thursday.