HDFC Bank reports 4.7% net profit growth to ₹19,510 crore in Q2FY27

Indian private lender Axis Bank reported its quarterly profit on Saturday, which slightly missed analysts' forecasts. Higher operating expenses and a decrease in income from other sources offset strong lending growth and reduced provisions.

Axis Bank, the third-largest private bank in the country by assets, recorded a net profit of 7,003 crore rupees (US$737.5 million) for the quarter ending September 30. This figure significantly exceeds the 5,090 crore rupees recorded a year earlier.

According to data collected by LSEG, the average analyst forecast was 7,124 crore rupees. Income from other operations, which includes profits from bonds and other investments, decreased by 1.4 percent to 6,531 crore rupees.

The rise in bond yields and rupee volatility during the quarter put pressure on the treasury of the Mumbai-based bank, restraining earnings despite the expansion of lending across various segments.

Banks across India demonstrated confident lending growth during the quarter in both corporate and retail portfolios. Net interest income increased by 11.8 percent, reaching 15,371 crore rupees, supported by a 23 percent rise in total loans. Meanwhile, deposits grew by 20.7 percent compared to the previous year.

Provisions for potential bad loans and other unforeseen expenses decreased by 52.2 percent, amounting to 1,694 crore rupees. It is worth noting that the gross non-performing asset ratio at the end of September stood at 1.16 percent, lower than the 1.28 percent recorded three months prior.

The public sector bank Canara reported an 8 percent increase in net profit, which amounted to 5,175 crore rupees for the September quarter of the current fiscal year. In the same period last fiscal year, the bank earned a net profit of 4,774 crore rupees.

According to the report submitted to regulatory authorities, the bank's total income in the second quarter increased to 40,931 crore rupees compared to 38,598 crore rupees in the same period of the previous fiscal year.

Interest income improved, reaching 35,159 crore rupees, whereas it was 31,544 crore rupees a year earlier. Net interest income showed significant growth of 20 percent in the reporting quarter, amounting to 11,005 crore rupees versus 9,141 crore rupees a year ago.

Operating profit also rose to 8,758 crore rupees compared to 8,588 crore rupees in the corresponding quarter of last year.

Regarding asset quality, the bank's gross non-performing assets (NPA) decreased to 1.33 percent of total loans as of the end of September 2026, compared to 2.35 percent a year earlier. Similarly, net NPAs or bad loans decreased to 0.3 percent at the end of September 2026, compared to 0.54 percent at the end of September 2025.

As a result of this decrease, provisions for bad loans reduced to 1,339 crore rupees compared to 1,504 crore rupees in the second quarter of the last fiscal year.