Shares of Axis Bank Ltd were trading in the red and 6% lower on 25 July after the company announced its quarterly earnings for the April-June quarter. 

In its quarterly report, the company reported a 4% year-on-year (YoY) increase in net profit to Rs 6,035 crore during the quarter under review from Rs 5,797 crore reported in the same quarter of the previous fiscal year. 

The net interest income during the quartet stood at Rs 13,448 crore, marking a 12% YoY increase from the same quarter last year, while the net interest margin during the quarter stood at 4.05%. 

The bank’s gross non-performing assets levels during the quarter stood at 1.54% during the quarter from 1.43% last year, while the net non-performing assets levels grew to 0.34% from 0.31% during Q1FY24. 

Fee income for Q1FY25 increased by 16% year-on-year to Rs 5,204 crores. Retail fees rose 18% year-on-year, making up 71% of the bank’s total fee income. 

Specifically, retail cards and payments fees grew by 12%, retail assets fees by 13%, and fees from third-party products surged by 68%. Corporate & commercial banking fees together increased by 12% year-on-year and 1% quarter-on-quarter to Rs 1,497 crores. 

Trading income for the quarter was Rs 406 crores, and miscellaneous income was Rs 173 crores. Overall, non-interest income for Q1FY25 grew 14% year-on-year to Rs 5,783 crores.

At 12:30 pm, the shares of Axis Bank were trading 6.47% lower at Rs 1,159.10 on NSE. 

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