Axis Bank shares fell 6.4% to their day’s low of Rs 1,086 on NSE on Friday, after the private lender reported a 4% year-on-year (YoY) decline in standalone net profit to Rs 5,806 crore for Q1FY26, compared to Rs 6,035 crore in the same quarter last year.
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Net interest income (NII) remained flat at Rs 13,560 crore during the quarter.
Operating profit before provisions and contingencies rose 14% YoY to Rs 11,515 crore from Rs 10,106 crore. However, provisions nearly doubled, increasing to Rs 3,948 crore from Rs 2,039 crore a year earlier.
The bank’s cumulative provisions (excluding NPAs) stood at Rs 11,760 crore at the end of Q1FY26, providing a standard asset coverage of 1.12% as of 30 June 2025.
The provision coverage ratio (PCR), including specific, standard, and additional provisions, stood at 138% of gross NPAs. Credit cost (annualised) for the quarter was reported at 1.38%.
Should you buy, sell, or hold Axis Bank’s stock? Here’s what brokerages say:
Antique
Antique has maintained a Buy rating on Axis Bank with a target price of Rs 1,300.
However, the brokerage flagged a miss on core parameters, noting a sharp rise in slippages and credit costs. It said the overall performance was weak in terms of margins, growth, and asset quality, which lags peers.
Antique added that a re-rating would depend on improvements in growth, asset quality, and credit cost reduction. While loan growth improved sequentially, it remains below industry levels, with retail growth muted. The brokerage expects RoA of 1.5%-1.7% and RoE of 13%-15% for FY26–27 and has cut its earnings estimates by 8% for FY26 and 4% for FY27.
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