Axis Bank Ltd. share price target

A Tough' business quarter

Axis Bank (AXSB) reported 3QFY25 net profit of INR63b (up 3.8% YoY, in line) as lower opex offset higher provisions. In 9MFY25, earnings grew 8.6% YoY to INR192.6b, and we expect 4QFY25 PAT to come in at INR68.4b.

Q3FY25 numbers were weak. Loan growth and deposit growth stood at a multi-quarter low. Slippages were elevated too at 2.3%, a multi-quarter high. Slippages largely attributed to Credit cards, Ppersonal loans, MFI and Agri-portfolio. Asset quality would stablise over the next couple of quarters.

Calibrated growth with improved asset quality

Axis Bank reported another soft quarter with credit growth slipping to 11% YoY, while higher slippages/w-offs led to elevated provisions.

Despite 9% YoY growth in NII, Axis Bank (Axis) reported Q2FY25 PAT of INR 69.2bn, up 18% YoY, driven by strong treasury gains (INR 11.1bn) and contained opex.

Axis Bank (AXSB) reported 2QFY25 net profit of INR69.2b (up 18% YoY, 4% beat) as tax reversals and treasury gains offset higher provisions.