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Axis Bank reports highest ever quarterly profit of Rs 3,133 crore in July-September quarter

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Axis Bank’s net interest margin stood at 3.39 per cent in the September quarter.

Axis Bank on Tuesday announced its July-September quarter results, recording the highest quarterly profit of Rs 3,133 crore on a standalone basis as compared to Rs 1,682.67 crore in the corresponding period last year, registering a growth of 86 per cent. it shows. -Year. According to the regulatory filing given by Axis Bank to the stock exchanges today, this was the highest ever quarterly profit for the bank.

The leading private lender’s operating profit for the second quarter of the current fiscal stood at Rs 5,928 crore, and core operating profit at Rs 5,456 crore, according to its statement. The bank’s net interest income (NII) rose per cent year-on-year to Rs 7,900 crore as against Rs 7,326 crore in the same period last year. Net interest margin stood at 3.39 per cent in the September quarter.

Axis Bank’s gross non-performing assets (NPAs) and net NPA levels stood at 3.53 per cent and 1.08 per cent, respectively, as against 3.85 per cent and 1.20 per cent in the previous April-June quarter. Gross slippage during the September quarter stood at Rs 5,464 crore as against Rs 6,518 crore in the previous June quarter and Rs 1,751 crore in the year-ago period.

The bank’s loan book growth stood at 10 per cent year-on-year during the September quarter, driven by the focused business segment. By segment, retail loans grew 16 per cent year-on-year and four per cent sequentially, while SME loans grew 18 per cent compared to the year-ago period.

Axis Bank crossed 1.9 million customers on WhatsApp Banking within nine months of launch. The bank partnered with BharatPe to expand its merchant acquisition business and launched a wide range of Open API or Application Programming Interface banking solutions, according to its statement.

On Tuesday, October 26, shares of Axis Bank closed 0.33 per cent lower at Rs 842.25 on the BSE. Axis Bank opened at Rs 849.70 on BSE during the entire trading session today, touching an intraday high of Rs 851.70 and an intraday low of Rs 824.

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