Axis Bank - Q2FY13 Result First Cut - Microsec

Axis Bank Ltd has announced its Q2FY13 result on 15th October 2012.

The bank's total income increased by 11.51% QoQ and 20.91% YoY to INR3919.99 crores, driven by 15.93% and 29% YoY growth in its Net Interest Income (NII) and Other Income respectively. Whereas, Profit After Tax (PAT) decreased by 2.60% QoQ and increased by 22.08% YoY to INR1123.54 crores. Bank has increased its provision by 96.81% QoQ and 25.60% YoY to INR509.42 crores, which leads to decline in Bottom line on QoQ basis.

During the quarter,. Bank's loans book and total deposits expanded by 22.87% and 21.17% YoY to INR172131.57 and INR235619.09 crores respectively. On the assets quality front, the bank has maintained its assets quality. Bank's GNPA marginally increased by 4bps QoQ and 2bps YoY to 1.10%, whereas NNPA marginally decreased by 1bps YoY to 0.33%. Capital Adequacy Ratio (CAR) stood at 12.99%, which is 399bps or 3.99% higher than the regulator stipulated norms. On the margin front, bank's Net Interest Margin improved by 9bps QoQ and decreased by 32bps YoY to 3.46%. Moreover, CASA ratio stood at 41%.

Source : Equity Bulls

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