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Axis Bank's Q2 net profit jumps 70% to Rs 5,330 cr as provisions slide

The lender's net interest income rose 31% on an annual basis and 10% on a sequential basis

Axis Bank
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(Photo: Bloomberg)

Press Trust of India New Delhi
Private sector lender Axis Bank on Thursday reported a 70 per cent jump in standalone net profit at Rs 5,329.77 crore in the July-September quarter of FY23 on healthy core income supported by fall in bad loans.

Also, the income from investments during the quarter rose by 27 per cent, adding to bank's profit numbers further.

The country's third largest private lender had posted a net profit of Rs 3,133.32 crore in the year-ago quarter.

Total income on standalone basis rose to Rs 24,180 crore in September quarter of 2022-23 as against Rs 20,134 crore in same period of 2021-22, Axis Bank said

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 20 2022 | 5:09 PM IST

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