Axis Bank Ltd. declared the financial results of Q2 FY16

Axis Bank Ltd. has reported good financial results in the current quarter. On the consolidated basis, company has reported 18.93% rise and 3.17% decline in net profit compared to same quarter last year & previous quarter respectively.

Gross Interest income reported at Rs. 9,960 Cr. Grew by 15.58% and 0.24% for the quarter under review as compared to the quarter ended September, 2014 and June, 2015 respectively. Net interest income at Rs. 4,062 Cr. grew by 15.24% & 0.14% on Y-o-Y basis & Q-o-Q basis and net interest margin stood at 3.85%. Other income (majorly fee income) is 17% of total income. Core operating income (excluding earnings on sale of investments) increased by 19.67% at Rs. 3460 Cr.

Asset quality of the bank deteriorated marginally. The bank’s Gross NPA and Net NPA for the July-September quarter of the current fiscal increased to 1.38% and 0.48% as compared to 1.34% and 1.34% in the same quarter of the previous year respectively.

Proportion of CASA as on 30-Sep-2015 stood at 44%. Return on assets was 1.64%.

Latest Key Indicators of the stock are as follows:

Key Market Indicators (Consolidated)
Latest Date 29-Oct-2015
Latest Price (Rs) 469.40
Previous Close (Rs) 482.95
1 Day Price Var% -2.81
1 Year Price Var% 10.25
52 Week High (Rs) 655.35
52 Week Low (Rs) 422.15
Beta 1.45
Face Value (Rs) 2.00
Industry PE 18.63
TTM Period 201503
TTM EPS(Rs) 31.32
TTM CEPS(Rs) 33.09
Price/TTM CEPS(x) 14.19
TTM PE (x) 14.99
Price/BV(x) 2.48
EV/TTM EBIDTA(x) 12.94
EV/TTM Sales(x) 4.93
Dividend Yield% 0.98
MCap/TTM Sales(x) 3.12
Latest Book Value (Rs) 189.02
Market Cap (Rs. In Crores) 111626.47
EV (Rs. In Crores) 176201.13
Latest no. of shares (In Crores) 237.81

Comparison of quarterly results with previous quarter (Q-o-Q) and the same quarter of last year (Y-o-Y) is below:

DESCRIPTION Sep-15 Sep-14 Var% Jun-15 Var%
Interest Earned 9,960 8,602 15.78 9,936 0.24
Other Income 2,041 1,948 4.82 2,298 -11.18
    Fees Income 1,813 1,591 13.96 1,551 16.89
    Others 61 86   101  
    Profit on Sale of Investments 168 271   646  
Total Income 12,001 10,550 13.75 12,234 -1.91
Interest Expended 5,898 5,078 16.15 5,880 0.30
Net Interest Income 4,062 3,525 15.24 4,056 0.14
Operating Expenses 2,476 2,310 7.16 2,262 9.42
Core Operating Profit before Prov.& Cont.* 3,460 2,892 19.67 3,446 0.43
Operating Profit before Prov.& Cont. 3,628 3,162 14.73 4,092 -11.34
Provisions and Contingencies 707 725 -2.46 1,122 -36.96
PBT 2,921 2,437 19.84 2,970 -1.67
Tax 1,005 827 21.61 992 1.34
Profit After Tax 1,916 1,611 18.93 1,978 -3.17
           
Adj Calculated EPS (Unit.Curr.) 8.06 6.83 18.02 8.33 -3.24
           
% of Gross NPAs 1.38 1.34 2.99 1.38 0.00
% of Net NPAs 0.48 0.44 9.09 0.48 0.00
Provisions Coverage% 78 78 0 78 0
CASA% 44.00 45.00 -2.22 43.00 2.33
NIM % 3.85 3.97 -3.02 3.81 1.05
Return on Assets 1.64 1.69 -2.96 1.78 -7.87
           
Capital Adeqacy Ratio Basel III 14.37 14.84 -3.17 14.50 -0.90
Tier I Basel III 11.16 11.51 -3.04 11.60 -3.79
Tier 2 Basel III 3.21 3.33 -3.60 2.90 10.69
           
PBIDTM% 36.43 36.76 -0.91 41.18 -11.53
PBDTM% 29.33 28.33 3.51 29.89 -1.87
PBTM% 29.33 28.33 3.51 29.89 -1.87
PATM% 19.23 18.72 2.72 19.91 -3.42
Note: Core Operating Profit before Prov.& Cont. excludes earnings from sale of investments
Tagged with: , , , , , , , , , , ,
Posted in Global News, Indian Market, Market Updates, Useful Articles