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Axis Bank had announced its third quarter results of FY10. It has reported 30.94% jump in its net profit of Rs 656 crore as against Rs 501 crore in the same quarter of previous year. Net interest income (NII) went up 45.13% to Rs 1,349.1 crore from Rs 929.6 crore. Other income was up to Rs 988 crore from Rs 732 crore.

Net profit of Axis Bank grew by 32 per cent to Rs 531.64 crore for the second quarter ended September 30, over the same period last year, aided mainly by increase in other income and reduction in cost of funds. Increase in current and saving deposits helped the bank cut cost of funds to 5.41 per cent (6.08 per cent) and also post a healthy growth in net interest income

Axis Bank has announced its second quarter results of FY10. Its Q2 net profit shot up 32% to Rs 531.64 crore versus Rs 402.91 crore on year-on-year basis (YoY). The bank's standalone NII (net interest income) was up 25.85% at Rs 1,149.68 crore from Rs 913.47 crore (YoY).

Axis Bank’s net profit increased by 70 per cent to Rs 562 crore for the quarter ended June 30, from Rs 330 crore in the corresponding quarter last year. The rise in profits was on account of the strong growth in non-interest income and the focus on low-cost deposits. “Our non-interest income continues to do well. Within that, although our fee income growth was lower, the treasury income was very profitable,” said Mr Somnath Sengupta, President, Finance and Accounts. The fee income increased 17 per cent to Rs 627 crore (Rs 537 crore) and the trading profit increased to Rs 326 crore (Rs 57 crore). The trading income comprised Rs 149 crore from government securities, Rs 70 crore from corporate bonds, Rs 77 crore from equity, Rs 25 crore from derivatives and Rs 5 crore from mutual funds. The Net Interest Margin was at 3.34 per cent, marginally lower than 3.35 per cent last year. The target for this fiscal is between 3.2 and 3.5 per cent. The share of the low-cost CASA deposits (current acc...

Axis Bank has reported a 76.85 per cent growth in net profit at Rs 402.91 crore for the second quarter ended September 30, 2008 when compared with its corresponding quarter a year-ago. According to a release issued by the bank to the Bombay Stock Exchange, Q2FY09 total income rose to Rs 3,239.45 crore from Rs 2,059.37 crore in Q2FY08.

Axis Bank posted a phenomenal rise in standalone net profit for the quarter ended March 2008, aided by excellent growth in total income. During the quarter, profit of the bank rose to 70.56 per cent to Rs 361.40 crore from Rs 211.89 crore in the same quarter last year. Interest earned for the quarter surged 47.46 per cent to Rs 2015.43 crore, while total income for the quarter jumped 54.20 per cent to Rs 2571.9 crore, when compared with the prior year period.

The Hindu Business Line Axis Bank (Rs 1,005.75): Sell We recommend a sell in Axis Bank at current market price. From the weekly chart of Axis Bank we note that it had been on a long-term uptrend from its August 2007 low of Rs 534 till its lifetime-high of Rs 1,291 touched in mid-January. However, ... More

1. Reliance Capital Research: Macquarie Rating: Outperform CMP: Rs 2,768 2. Moser Baer Research: JP Morgan Rating: Underweight CMP: Rs 289 3. Axis Bank Research: CLSA Rating: Buy CMP: Rs 1,167 4. Shree Cement Research: Merrill Lynch Rating: Neutral CMP: Rs 1,325 Read in Details

Axis Bank`s net profit rises 66% (Business Stndard 10th Jan 2008) Axis Bank’s net profit rose by 66 per cent to Rs 306.83 crore in the quarter ended December 31, 2007 as against Rs 184.61 crore in the corresponding quarter last fiscal. The growth in profit was largely driven by 80 per cent incease in fee income at Rs 348.41 crore and 91 per cent gowth in net interest income at Rs 747.34 crore. The bank’s total income increased by 58.54 per cent to Rs 2290.24 crore. More South Indian Bank net up 64% (Business Stndard 10th Jan 2008) The Kerala-based South Indian Bank (SIB) has posted a growth of 63.93 per cent in net profit for the third quarter of fiscal 2007-08. The bank, which declared its third quarter numbers in Thiruvananthapuram, said its Q3 net profit stood at Rs 40.72 crore as against Rs 24.84 crore in the corresponding period last year. SIB, which became the first bank to announce the Q3 results in this financial year, added that the cumulative profit for the period ended Dec...