Tuesday, November 19, 2019

Posted at: Oct 23, 2019, 7:35 AM; last updated: Oct 23, 2019, 7:37 AM (IST)

Axis Bank posts Q2 net loss of Rs112 cr

Axis Bank posts Q2 net loss of  Rs112 cr
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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


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