Axis Bank posts 5% rise in Q3 net profit
Mumbai, January 23
Axis Bank on Tuesday reported a 4.91 per cent growth in its consolidated net profit to Rs 6,491.66 crore, dragged down by higher operating expenses.
On a standalone basis, the third largest private sector lender’s net profit for the October-December period grew less than 4 per cent at Rs 6,071 crore.
Its core net interest income grew 9 per cent to Rs 18,087 crore, while non-interest income was up 22 per cent to Rs 5,555 crore. The assets grew 14 per cent, while the net interest margin narrowed to 4.01 per cent from 4.26 per cent in the year-ago period, and 4.11 per cent in the preceding quarter.
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