Axis Bank, a private sector lender, announced a 10 percent increase in net profit for the September quarter, at Rs 5,863 crore.
In the previous fiscal year, Axis Bank reported a net profit of Rs 5,329 crore.
The bank’s provisioning jumped to Rs 815 crore in the second quarter of the current fiscal year, up from Rs 550 crore the previous year.
Axis Bank’s total income increased to Rs 31,660 crore during the quarter under review, from Rs 24,094 crore last year.
Net Interest Income (NII) of the bank surged 19 percent year-on-year to Rs 12,315 crore.
Amitabh Chaudhry, Managing Director and Chief Executive Officer of Axis Bank stated that despite a highly uncertain global geopolitical backdrop, the India story remains robust.
Chaudhry went on to say, “With the upcoming festivities, we are already seeing a surge in demand, which augurs well for business. We are looking at steady growth for all major business verticals of the bank”.
Shares of Axis Bank wrapped up at Rs 955.35 on Wednesday, down 0.84 percent from the previous close on the BSE.
Also read: Hurricane Otis Makes A Catastrophic Landfall In Mexico
Singapore’s CapitaLand Commits to Significant Growth in India
Passport Seva Portal To Undergo Maintenance
Pradyumna Kumar- The man who cycled from India to Europe for love
NASA’s Sunita Williams Faces 3 Deadly Scenarios With Boeing Starliner
Manasi Joshi: The Paralympic Athlete Who Redefines Resilience
Wipro’s Share Splits Turn ₹10,000 Investment From 1980 Into ₹1,000 Crore
6 Indian Athletes Who Won Medals At Paris Olympics 2024
6 Indian Military Bases Around The World
PM Modi In Kerala: Visits Landslide-Hit Wayanad; Expresses Concern Over Impact On Local Children
8 Things To Know About Quit India Movement
Paris Olympics 2024: After the Games are over, what happens to Olympic villages?
4 Countries That Are Income Tax- Free
Union Budget 2024: Key Highlights
Anti Quota Agitation In Bangladesh
10 Oldest World Leaders In Power
Priyanka Chopra Birthday: 5 Unknown Facts About Priyanka Chopra
10 Favourites To Win Medals For India At Paris Olympics 2024
5 Celebs Who Want Joe Biden To Step Aside
5 Most Followed Political Leaders On X, Here’s PM Modi’s Latest Ranking
Donald Trump Assassination : A Look Back At The Four Assassinations Of U.S. Presidents In American History
