Axis Bank Q2 profit up 19 pct; bad loans stable

MUMBAI (Reuters) - Axis Bank Ltd, India's third-biggest private sector lender by assets, reported a 19 percent increase in second-quarter profit, in line with estimates, while its bad loans remained stable.

Net profit rose to 19.16 billion rupees ($295 million) for the three months to Sept. 30 from 16.11 billion rupees a year earlier, the Mumbai-based bank said in a statement.

Analysts on average had expected a net profit of 19.2 billion rupees, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans were little changed from the previous quarter at 1.38 percent.

($1 = 64.9475 rupees)

 

(Reporting by Devidutta Tripathy)