Axis Bank Q2 FY27 Results: Consolidated Net Profit ₹7,650 Crore on Total Income of ₹45,674 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The group earns about ₹646 crore more than the bank (derived). Consolidated net profit rose 37.6% to ₹7,649.69 crore against ₹7,003.28 crore standalone, the same growth rate as the bank's, so subsidiaries add about 9% to profit and have grown in step. Total income rose 14.8% to ₹45,674.37 crore, with other income of ₹7,586.89 crore, 17% of it (derived). Earnings per share were ₹24.76 against ₹17.82.

As at 30 September 2026 the bank has 10 subsidiaries, 2 step-down subsidiaries and 1 associate. During the quarter it put ₹25.49 crore of equity into Freecharge Business and Technology Services Limited, a wholly-owned subsidiary.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Much of the 37.6% profit growth is a low base. The notes say that in Q2 FY26, after an RBI advisory following its FY25 annual inspection, the bank made an additional one-time standard asset provision of ₹1,231 crore for declassified priority-sector loans, with customer terms unchanged and no divergence in asset quality or NPA provisioning found. Adding that back before tax, and taxing it at the year-earlier rate of about 26%, puts the year-earlier profit at about ₹6,000 crore and the growth to about 17% (derived).

The notes say the provision will be written back when the loans are made compliant, recovered or closed, which they expected by 31 March 2026; the text read does not say whether it has been. Net profit was ₹7,003.28 crore against ₹5,089.64 crore, and slightly lower than June's ₹7,113.92 crore (−1.6%). Total income rose 14.2% to ₹42,949.32 crore, other income fell 1.4%, and tax rose 34.4% to ₹2,386.06 crore. For H1 FY27 profit before tax was ₹18,825.90 crore (net profit ₹14,117 crore, derived). Earnings per share were ₹22.50 against ₹16.41.

The results were reviewed by M M Nissim & Co LLP and KKC & Associates LLP, joint statutory auditors, who issued an unmodified report. The scanned asset quality and capital tables are partly unreadable, so NPA and capital ratios are not quoted here.

Inference

Axis Bank's headline profit growth of 37.6% is flattered by the ₹1,231 crore one-time provision in the year-earlier quarter; without it growth is closer to 17%, and profit was lower than in June.

The filing does not say whether the one-time provision has been written back, so any profit from a write-back would be a one-off.

Reference: Original filing (PDF)