AXIS BANK; RESULTS UPDATE

AXIS BANK Q2 FY2012 numbers look good, as one has come to expect from this Bank. The salient features:

-Net Profit up approx 25 % YOY but declined marginally QOQ
-Net Interest Income up 24% YOY and up 16% QOQ
-Loan Book growth 27% YOY
-Deposits growth 26% YOY
-NIMs up at 3.78% vs 3.28% QOQ
-Very significantly, CASA ratio up at 42% vs 40% QOQ
-Net NPAs marginally up at 0.34% vs 0.31% QOQ

Overall a pleasing set of numbers from AXIS BANK.

This Blog reiterates its best Buy range of 975-1000 for Axis Bank in accordance with its original call made on 29/8/2011. READ HERE


DETAILED Q2 FY2012 RESULTS SEE HERE