Axis Bank Q1 results: Net profit rises 94% to Rs 2,160 cr; NII up 11%

Private lender Axis Bank on Monday reported 94 per cent year-on-year rise in standalone net profit at Rs 2,160 crore as against Rs 1,112 crore reported in the same quarter of last year (Q1FY21).

However, on a sequential basis, the profit after tax (PAT) fell by 19 per cent from Rs 2,677 crore in the previous quarter (Q4FY21). 

The net interest income (NII) of the lender rose 11 per cent Rs 7,760 crore from Rs 6,985 crore in Q1FY21. Net interest margin (NIM) for the June quarter stood at 3.46 per cent.

Meanwhile, Fee income during the quarter rose 62