The UK-listed shares of private lender Axis Bank Ltd., also known as Global Depository Receipts (GDR), fell as much as 5% on Thursday, after the lender’s quarterly results, that were reported after market hours on Thursday, July 17.Axis Bank’s results were a miss on all parameters, with the management attributing most of the excesses to one-off “technical factors.”
Slippages for the quarter saw a sharp increase compared to the previous quarter, and even after adjusting for the technical factors, it remains higher on a sequential basis, as well as last year.
Axis Bank’s profitability also took at hit as asset quality deteriorated from the March quarter and provisions saw a sharp jump across timeframes.
Axis Bank CFO Puneet Sharma stated on the earnings call that the full book of the bank was reassessed in the first quarter, and that the impact in the subsequent quarters will be minimal.”We do not expect to make any further changes to our policy, unless regulations change; we are now the most prudent on the street,” Sharma stated.
Slippages for the quarter saw a sharp increase compared to the previous quarter, and even after adjusting for the technical factors, it remains higher on a sequential basis, as well as last year.
Axis Bank’s profitability also took at hit as asset quality deteriorated from the March quarter and provisions saw a sharp jump across timeframes.
Axis Bank CFO Puneet Sharma stated on the earnings call that the full book of the bank was reassessed in the first quarter, and that the impact in the subsequent quarters will be minimal.”We do not expect to make any further changes to our policy, unless regulations change; we are now the most prudent on the street,” Sharma stated.
Axis Bank’s GDR is currently trading 5% lower at $64.2. The unit has declined in three out of the last four trading sessions.
The Indian listed shares of Axis Bank ended 0.6% lower on Thursday before the earnings announcement. The stock has declined 4% in the last one month and has risen 8.3% so far in 2025.
(With Inputs From Gaurav Jawalkar and Ritu Singh.)
First Published: Christmas 17, 2025 7:51 pm IS
