Latest News | Axis Bank Q3 Net Profit Rises by 4% to Rs 6,304 Cr

New Delhi, Jan 17 (PTI) Private sector lender Axis Bank on Thursday reported a 4 per cent rise in standalone net profit to Rs 6,304 crore for the third quarter ended on December 31, 2024.

The bank had earned a net profit of Rs 6,071 crore in the October-December quarter of the previous year.

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The total income of the bank increased to Rs 36,926 crore in the third quarter of the current fiscal from Rs 33,516 crore in the year-ago period, Axis Bank said in a regulatory filing.

During the quarter, the bank's interest income rose to Rs 30,954 crore from Rs 27,961 crore in the same period last fiscal.

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The bank's Net Interest Income (NII) grew 9 per cent to Rs 13,606 crore as against Rs 12,532 crore in the same quarter of FY24.

The gross Non-Performing Asset (NPA) moderated to 1.46 per cent as against 1.58 per cent of the total advances at the end of December 2023.

Similarly, the net NPA declined marginally to 0.35 per cent as compared to 0.36 per cent at the end of December 2023.

However, provisions and contingencies for the third quarter of FY25 rose to Rs 2,156 crore against Rs 1,028 crore in the same quarter of the previous financial year.

Net Interest Margin (NIM) stood at 3.93 per cent in the third quarter of 2024-25.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)