Axis Bank posts Q2 net loss of Rs112 cr

New Delhi, October 22

Axis Bank on Tuesday reported a net loss of Rs 112.08 crore on a standalone basis for the second quarter ended September of the current fiscal due to a one-time tax impact.

The private sector bank had posted a net profit of Rs 789.61 crore in the corresponding July-September quarter of the previous fiscal.

The net loss of Rs 112 crore for the quarter was driven by a one-time tax impact of Rs 2,138 crore due to changes in corporate tax rate, the bank said. — PTI