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 | |||||
