New Delhi: The Bank’s private sector axis on Tuesday reported a surge in more than 86 percent in independent net profit at Rs 3,133.32 Crore in the second quarter ended September 2021.
The bank had posted a net profit of 1,682.67 crore for the same period of the previous fiscal year .
Total independent revenue during July-September 2021-22 rose to Rs 20,134.39 Crore, from RS 19,550 Crore in the same period 2020-21, the bank axis said in the submission of regulations.
The bank showed an increase in the asset quality fronts, because of the gross non-performing assets (NPA) or a bad loan fell to 3.53 percent of gross progress at the end of September this year from 4.18 percent in the same period last year.
However net NPA rose to 1.08 percent from 0.98 percent.
Bank provisions for bad loans and contingencies for the quarter reportedly fell substantially to RS 1,735 Crore from Rs 4,343 Crore set aside in the period last year.
Axis Bank shares were closed at RS 842.25 each at BSE, down 0.33 percent from the previous closed.
The Bank’s axis Q2 net income rose 86% to RS 3,133 Crore
