Introduction
Axis Bank is one of the largest private banks in India. The financial institution specializes in offering financial services to large corporations, mid-size corporations, SMEs and retail businesses. With an emphasis on digital banking, the bank promises a seamless process for retail, corporate and other institutional clients.
Run by Amitabh Chaudhry, the bank ranks as the second highest-paid CEO of any bank. Read on to learn about the bank’s financial performance over the past 2 fiscal years to make an investment decision.
Axis Bank Financial Analysis
In the fiscal year 2023-24, Axis Bank recorded a net profit of Rs 7,130 crore in the March quarter. The overall performance of the bank was good as the balance sheet surged by 12% on a year-on-year basis and stood at Rs 14, 77, 209 crores.
The Net Interest Income (NII) of the bank amounted to Rs 13,089 crores. This amount is 11.5% higher as compared to Rs 11,742 crores in the same period the previous year.
Read on to learn more about the key parameters.
| Category (Yearly) | March 2024 (In Crores) | March 2023 (In Crores) |
| Total Income | Rs. 1,31,810.59 | Rs. 1,01,664.64 |
| Net Profit | Rs. 24,861.43 | Rs. 9,579.68 |
| Basic Earnings Per Share | Rs. 80.67 | Rs. 31.17 |
Axis Bank Stock Analysis
In May, Axis Bank share price was around Rs. 1100+. This Axis Bank share price chart showcases the performance of the financial institute in the stock market.
As of May 2024, the EPS-TTM of the company stands at Rs 85.46. For the same period, the 52-week high and low range of the company’s share price is around Rs. 865.30 to Rs. 1182.90. It can be a good long-term investment.
Is it Worth Investing in Axis Bank Shares?
According to analysts, buying Axis Bank shares is a good call. Out of 39 analysts, 21 are strongly in favor of buying these shares, 15 recommend that future investors can make a move, only 3 recommend keeping them on hold and not a single one suggests selling them off.
Axis Bank shares have given a 3-year return of 57.80% which is higher than the 54.84% returns given by Nifty 100. Demonstrating consistent performance, Axis Bank has also garnered a recommendation from many experts to reach a target of Rs 1400. However, before investing, it is important to conduct your own research and make a decision.
Axis Bank has partnered with OPEN, a digital banking enterprise to launch a native digital current account journey for its clientele. Therefore, investing in the bank can be beneficial for individuals seeking to securely allocate their funds for the time being rather than aiming for immediate wealth accumulation.
The Bottom Line
Axis Bank has been one of the most trusted private sector banks in India. Over the years, the company has grown and the same is reflected in its financial performance. For diversifying in the baking industry, this stock can prove beneficial.