Axis Bank Q1 FY27 Profit Rises 23% on Lower Provisions

Axis Bank Ltd. reported its Q1 FY27 financial results on July 18, 2026, announcing a standalone net profit increase of approximately 23% to ₹7,114 crore. Consolidated net profit rose 22.24% to ₹7,632.31 crore. The growth was primarily fueled by a 43.7% year-on-year decline in provisions and contingencies, which fell to ₹2,222.54 crore.

Net interest income grew 8% to ₹14,646 crore, though core operating profit growth remained modest at 1.3% due to a 4.5% rise in operating expenses and a 7.2% drop in other income. Asset quality improved, with gross non-performing assets declining to 1.28% from 1.57% a year earlier, while net NPA stood at 0.39% as of June 30, 2026. The bank's return on assets increased slightly to 1.51% from 1.47%.

Business expansion continued with total deposits rising 18% to ₹13.73 lakh crore and net advances increasing 19% to ₹12.62 lakh crore. In separate strategic moves, the bank invested ₹380.60 crore in Axis Max Life Insurance. Additionally, it diluted its ownership in its subsidiary, Axis Finance Limited, from 100% to 94.92% on July 13, 2026, following a USD 50 crore equity allotment to Kedaara Pearl Holding and Kedaara Capital Fund IV AIF.