Axis Bank posts net profit of Rs 1,683 cr in Sept qtr as bad loans decline

Axis Bank on Wednesday reported a net profit of Rs 1,683 crore on a standalone basis for the quarter ended September on account of decline in bad loans. The private sector lender had posted a loss of Rs 112.08 crore in the corresponding July-September period of the previous fiscal.

The bank's total income rose marginally to Rs 19,870.07 crore in the second quarter of 2020-21, from Rs 19,333.57 crore in the same period last year, it said in a regulatory filing.

The bank showed improvement on the asset quality front, with gross non-performing assets (NPAs) falling to 4.18 per cent