Tuesday, November 19, 2019
facebook
Business

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
File photo

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

COMMENTS

All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On