Axis Bank Q2 net profit rises 70% to Rs 5,329 crore; NII jumps 31%

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Axis Bank on Thursday reported a 70 per cent year-on-year rise in standalone net profit for the July-September quarter at Rs 5,329.77 crore as a healthy increase in net interest income and margins boosted the private lender’s bottomline.

Sequentially, the bank’s net profit rose 29 per cent from Rs 4,125.26 crore in Q1.

In Q2, Axis Bank’s net interest income was at Rs 10,360.26 crore, up 31 per cent on-year and 10 per cent quarter-on-quarter. Net interest income refers to the difference between interest earned and interest expended. For the period under review, Axis Bank’s net interest margin was at