Axis Bank posts 38% Q2 profit jump to ₹7,003cr
Business
Axis Bank just posted a big 38% jump in net profit for the July-September quarter, reaching ₹7,003 crore, up from ₹5,089 crore last year.
The boost came from solid growth in its core business: net interest income rose 12% to ₹15,371 crore, and the bank's net interest margin stood at 3.36%.
Advances up 23% and provisions ₹1,694cr
Operational profits also climbed (up 6%), and the bank saw strong demand for loans, with advances growing 23% year-on-year.
Asset quality got better too: bad loan ratios were GNPA at 1.16%, net NPA at 0.35%.
With provisions set aside for potential losses at ₹1,694 crore this quarter, Axis seems focused on balancing growth with careful risk management.