Wednesday, October 27, 2021

Axis Bank reports all time high quarterly profit | Dip 7 % | Stock Outlook | What know ?


Axis Bank reports all time high quarterly profit of Rs3,133cr in Q2 rising by 84.45% yoy

The Bank’s Net Interest Income (NII) grew 8% yoy to Rs7,900cr from Rs7,326cr in Q2FY21. Net interest margin (NIM) for Q2FY22 stood at 3.39%.

Axis Bank quarterly profits were at an all-time high on a standalone basis. Fee income was up 17% yoy. The credit costs stood at 0.54% while the net slippages in the quarter stood at 0.46%. CASA share was up 200 bps at 42% in overall deposits. Profit after tax (PAT) for the Sep-21 quarter was up 84.45% at Rs3,388cr.

The NII for the quarter grew by 8% yoy while the net interest margins or NIM stood at 3.9%.

The bank reported a 4.17% rise fall in total consolidated revenues in the Sep-21 quarter at Rs20,967cr. Revenues were up 4.54% on a sequential basis.

The stock is underperforming on the stock exchange today despite performing good set of Q2 numbers. The stock extends its fall by 4% and among top loser.

Stock Outlook

Don't panic in todays correction. 756 - 781 is good support zone. Accumulate in this range for long term.

Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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