Q3 : Axis Bank reports 18% Q-o-Q rise in Net Profit

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Mumbai: Private sector Axis Bank on Saturday reported 18.2 percent Q-o-Q rise in net-profit at Rs.266 crore. On Year on Year basis the net profit has risen by 76.8 percent, from Rs.151 crore in Q3 of 2020-21.

The Bank’s Net Interest Income has dipped by 31 percent YoY to Rs.1764 crore. However, on Q-o-Q basis the Net Interest Income has witnessed a growth of 16.6 percent.

Non-Interest income of the bank was at INR 734 C. It has reported highest ever Retail Fee Income at INR 447 Cr.

Gross NPA ratio further improves: 14.7% vs. 15.0% last quarter led by lower Slippages at INR 978 Cr vs. INR 1,783 Cr in Q2. Net NPA ratio eases to 5.3 percent.

Net Advances of the bank was at INR 176,241 Cr, up 2.0% Q-o-Q. Total Deposits at INR 184,288 Cr up 4.3% Q-o-Q.

 

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