Axis Bank Q1 net jumps 94% to ₹2,160 crore
The Hindu
Axis Bank on Monday saw its net profit almost double to ₹2,160.15 crore in the June quarter on the back of healthy loan-book growth and a fall in bad loan provisions. The lender had posted net profit
Axis Bank on Monday saw its net profit almost double to ₹2,160.15 crore in the June quarter on the back of healthy loan-book growth and a fall in bad loan provisions. The lender had posted net profit of ₹1,112.17 crore a year earlier. Total income rose to ₹19,591.63 crore from ₹19,032.15 crore, according to a regulatory filing. Sequentially, it was down from ₹20,162.76 crore in the quarter ended March 2021. Interest income fell to ₹16,003.46 crore in Q1 FY22 from ₹16,445.47 crore a year earlier. However, income on investments rose to ₹3,428.20 crore from ₹2,973 crore. The loan book grew 12% year-on-year.
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