Axis Bank profit jumps 86% to Rs 3,133 crore in September quarter

Strong fee income, fall in provisions boost bottom line

Private lender Axis Bank logged 86 per cent growth in net profit at Rs 3,133 crore in the second quarter ended Septe­mber 2021, predominantly on robust growth in fee income and sharp fall in provisions. It had posted a net profit of Rs 1,683 crore in Q2 of FY21.

Net interest income (NII) grew by 8 per cent on a year-on-year (YoY) basis to Rs 7,900 crore in Q2 of FY22 as against Rs 7,326 crore in Q2 of FY21. Net interest margin (NIM) declined to 3.39 per cent in Q2 of FY22 from 3.58 per cent a year ago.

Growth is