India's Axis Bank reported a higher-than-expected second-quarter profit on Thursday, helped by an increase in core lending income. The country's fourth-largest private lender by market value said its standalone net profit,

Axis Bank's second quarter results showed a net profit of Rs 6,918 crore, up 18% year-on-year, exceeding the Bloomberg estimate of Rs 6,370 crore, according to an exchange filing. Sequentially, the bank's bottomline grew 15%.

In terms of deposits, Axis Bank reported a 14% YOY increase, with term deposits soaring by 21% YOY. Current Account Savings Account (CASA) deposits saw a more modest growth of 4% YOY.

India's Axis Bank reported a bigger-than-expected rise in second-quarter profit on Thursday, helped by higher core lending income. The country's fourth-largest private lender by market capitalisation said its standalone net profit - which excludes its subsidiaries - rose 18% to 69.

Net interest income - the difference between interest earned on loans and that paid on deposits - a key source of income for banks, grew 9% year-on-year to ₹13,483 crore. Net interest margins for the September quarter basis eased to 3.

Axis Bank's Q2FY25 financial report shows 18% net profit growth, 9% NII growth, and strong provision coverage ratios.

India's Axis Bank reported an 18% year-on-year rise in second-quarter profit on Thursday, helped by higher core lending income on the back of strong credit demand.

Slippages for the September quarter were ₹4,443 crore, of which ₹4,073 crore were from the retail loan segment, ₹264 crore from commercial banking loans and another ₹106 crore from wholesale loans, the bank said.

Axis Bank announced a larger-than-expected increase in second-quarter profit, buoyed by strong core lending income and rising credit demand. The fourth-largest private lender in India, by market capitalization,