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Axis Bank profit nearly doubles to Rs. 1,370 Crore in June Quarter

Axis Bank’s net profit jumped 95 per cent in April-June period to Rs. 1,370.08 crore from Rs. 701 crore in the same quarter last year, the bank said in a stock exchange filing after market hours on Tuesday. Its net interest income, the difference between interest earned and interest expended, grew 13 per cent to Rs. 5,843.65 crore compared with Rs. 5,166.80 crore during the same quarter last year, the bank’s exchange filing showed.

Axis Bank’s asset quality remained stable in April-June period as its gross non-performing assets (NPA) as a percentage of total advances came in at 5.25 per cent compared with 5.26 per cent in the previous quarter. Net NPA stood at 2.04 per cent compared with 2.06 per cent in the previous quarter, the Mumbai-based private lender said.

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