AXIS BANK Announces Quarterly Results (2QFY20); Net Profit Down 114.2%

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

AXIS BANK Announces Quarterly Results (2QFY20); Net Profit Down 114.2%
Thu, 24 Oct

AXIS BANK has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

AXIS BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Operating incomeRs m132,810152,550154,3781.2%16.2%
Other incomeRs m26,78438,68838,9580.7%45.5%
Total revenuesRs m159,594191,237193,3361.1%21.1%
InterestRs m80,48994,11393,360-0.8%16.0%
Gross Profit Rs m52,32158,43761,0184.4%16.6%
Other expensesRs m38,16538,19740,4605.9%6.0%
Profit before taxRs m11,66620,78224,33217.1%108.6%
TaxRs m3,7707,08125,453259.5%575.1%
Profit after taxRs m7,89613,701-1,121-108.2%-114.2%
Gross profit margin %39.438.339.5
Effective tax rate%32.334.1104.6
Net profit margin%5.99.0-0.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 16.2% on a year-on-year (YoY) basis. The interest expended was up by 16.0% YoY during the same period.
  • The bank's operating profit increased by 16.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.5% in 2QFY20 as against 39.4% in 2QFY19.
  • Other income increased by 45.5% YoY during the quarter.
  • Net profit for the quarter declined by 114.2% YoY. Net profit margins during the quarter declined from 5.9% in 2QFY19 to -0.7% in 2QFY20.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.2% on a quarter-on-quarter (QoQ) basis. The interest expended was down by 0.8% QoQ during the same period.
  • The bank's operating profit increased by 4.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.5% in 2QFY20 as against 38.3% in 1QFY19.
  • Net profit for the quarter declined by 108.2% QoQ, while net profit margins declined from 9.0% in 1QFY19 to -0.7% in 2QFY20.

To see how AXIS BANK has performed over the last eight quarters,please visit here.

Just Released: The No. 1 Stock to Buy in 2020

AXIS BANK Share Price Performance

Over the last one year,AXIS BANK share price has moved up from Rs 563.4 to Rs 718.3, registering a Gain of Rs 154.9 or around 27.5%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 33,469.2 (up 0.5%). Over the last one year it has moved up from 28,003.5 to 33,469.2, a gain of 5,466 points (up 19.5%).

Overall, the S&P BSE SENSEX is up 15.8% over the year.

Current Valuations

At the current price of Rs 718.3, the price to earnings (P/E) ratio of AXIS BANK stands at 38.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.5 times.

Equitymaster requests your view! Post a comment on "AXIS BANK Announces Quarterly Results (2QFY20); Net Profit Down 114.2%". Click here!

  

Related Views on News

AXIS BANK Announces Quarterly Results (3QFY20); Net Profit Up 4.5% (Quarterly Result Update)

Jan 24, 2020 | Updated on Jan 24, 2020

For the quarter ended December 2019, AXIS BANK has posted a net profit of Rs 18 bn (up 4.5% YoY). Sales on the other hand came in at Rs 157 bn (up 11.2% YoY). Read on for a complete analysis of AXIS BANK's quarterly results.

AXIS BANK Announces Quarterly Results (1QFY20); Net Profit Up 95.4% (Quarterly Result Update)

Aug 1, 2019 | Updated on Aug 1, 2019

For the quarter ended June 2019, AXIS BANK has posted a net profit of Rs 14 bn (up 95.4% YoY). Sales on the other hand came in at Rs 153 bn (up 19.4% YoY). Read on for a complete analysis of AXIS BANK's quarterly results.

Axis Bank: Lower Slippages Save Bottomline Performance (Quarterly Results Update - Detailed)

Feb 6, 2018

Lower provisioning leads to the net profits growing by 25% during the quarter. However, asset quality remains a concern and would be the key thing to watch out for in the coming quarters results.

Bandhan Bank IPO: A Microlender Turned Profitable Bank (IPO)

Mar 12, 2018

Is the IPO of one of India's newest private sector bank, Bandhan Bank, worth applying for?

More Views on News

Most Popular

How to Buy the Best Safe Stocks in 2020(The 5 Minute Wrapup)

Jan 17, 2020

Don't fall for the safe stocks narrative going around in the stock market these days.

For 1,000%+ Gains, Follow the 8-Year Cycle in the Stock Market(Fast Profits Daily)

Jan 17, 2020

This is how the biggest trading profits are made.

The Best Asset Class to Invest in 2020(Fast Profits Daily)

Jan 24, 2020

Why I'm most bullish on this asset class above all else in 2020.

Small is Beautiful in 2020 (A Prediction You Don't Want to Miss)(Profit Hunter)

Jan 17, 2020

As always Apurva will predict the best asset class to invest in in the coming year, last year he predicted gold and he was bang on! And this year he predicts... wait, you have to read to find out! Don't miss this.

The Smallcap Rebound Has Begun (13 Stocks Up Over 20% in the last Month)(Profit Hunter)

Jan 21, 2020

The best smallcap stocks to bet on to get rich in this market rebound.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get our special report, Secret to Increasing Your Trading Profits Today Now!
We will never sell or rent your email id.
Please read our Terms

AXIS BANK SHARE PRICE


Jan 28, 2020 (Close)

TRACK AXIS BANK

  • Track your investment in AXIS BANK with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

AXIS BANK - WELLS FARGO COMPARISON

COMPARE AXIS BANK WITH

MARKET STATS