Axis Bank Q1 PAT rises 23% to ₹7,114 cr, asset quality stable
Net profit hits ₹7,114 crore as NII grows 8% and NPAs shrink. But with no surprises and a CFO exit looming, the quarter offers confirmation rather than a catalyst.
— 4 earlier stories on Axis Bank Ltd. →What's new
- Standalone PAT rose 23% YoY to ₹7,114 crore.
- NII up 8% to ₹14,646 crore; NIM steady at 3.46%.
- Gross NPAs fell to 1.28% from 1.57% a year ago.
Why this matters
A clean beat on profitability and asset quality, but this is a backward-looking number that the market had already discounted via the provisional update. The real question is how the bank handles the CFO transition after Puneet Sharma's departure.
What we're watching
- CFO succession: Sharma leaves in ~3 months; who takes over?
- NIM trajectory: 3.46% is solid but can it hold as deposit competition heats up?
- Loan growth sustainability: 19% YoY advances growth needs funding.
The full read
Axis Bank delivered a solid Q1: PAT hit ₹7,114 crore, up 23% YoY, on NII of ₹14,646 crore (+8%). Asset quality improved; gross NPAs fell to 1.28% and core operating profit rose 10% to ₹11,122 crore. Deposits grew 18%, advances 19%. A textbook quarter. But the market had already seen the provisional numbers. No guidance, no strategic pivot, just a steady ship. The open question is succession after CFO Puneet Sharma's resignation, effective in three months. For now, the numbers confirm momentum, not a catalyst.
Questions answered
- How did Axis Bank's Q1 profit compare to expectations?
- The ₹7,114 crore PAT was broadly in line with street estimates. The 23% YoY growth was driven by positive operating jaws and stable asset quality, but no major surprise versus the provisional business update.
- What drove the net interest income growth?
- NII rose 8% YoY to ₹14,646 crore, supported by 19% loan growth. The net interest margin held at 3.46%, indicating stable pricing discipline.
- Did asset quality improve?
- Yes. Gross NPAs dropped to 1.28% from 1.57% a year ago, and net NPAs fell to 0.39%. Provision coverage remains comfortable.
- Is the CFO resignation a concern?
- Puneet Sharma resigned in June with a 3-month transition period. He called his core mandate complete. The risk is any disruption in financial strategy during the handover.
Axis Bank Ltd.
Latest quarter · Mar 2026
Returns & growth
Story so far
All notes on AXISBANK →- 18 Jul 2026 · 11:38 AM IST Axis Bank Q1 PAT rises 23% to ₹7,114 cr, asset quality stable
- today Axis Bank says NIM bottomed at 3.5%, eyes 3.8% in 12-15 months
- today Axis Bank names Rajeev Mantri as CFO, ends leadership gap
- today Axis Bank Q1 profit up 23% to ₹7,114 cr; CFO transition looms
- 19d ago Axis Bank CFO Puneet Sharma resigns, says core mandate complete