Axis Bank Q1 net profits grows 23% to ₹7,114 crore
Axis Bank reported a 23% year-on-year increase in net profit to ₹7,114 crore for the first quarter of 2026. The bank maintained strong asset quality and prudent provisioning despite macroeconomic uncertainties.
Why it matters
The financial results indicate robust growth for one of India's largest private banks, reflecting broader trends in the Indian banking sector.
Beating analysts’ estimates, Axis Bank Ltd., India’s third-largest private sector bank, reported a 23% year-on-year increase in profit to ₹7,114 crore for the quarter ended June 30, 2026.
The Bank’s Net Interest Income (NII) for the quarter stood at ₹14,646 crore up 8% YOY. Net Interest Margin (NIM) stood at 3.46%.
Provision and contingencies for the quarter stood at ₹2,223 crore. Specific loan loss provisions stood at ₹2,079 crore. The Bank holds cumulative provisions (standard and additional other than Non-Performing Asset (NPA) of ₹15,608 crore as on June 30, 2026.
This is over and above the NPA provisioning included in the Provision Coverage Ratio (PCR) calculations.
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