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Private lender Axis Bank reports over 4% fall in post-September quarter earnings

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At 10:10 am, Axis Bank shares were trading 4.3 per cent lower at Rs 805.45 on the BSE.

Shares of Axis Bank fell over 3 per cent a day after the private lender reported its September quarter earnings. Axis Bank reported 86 per cent growth in standalone net profit at Rs 3,133 crore for the second quarter ended September 2021, as against Rs 1,682.67 crore in the same period last year. At 10:10 am, Axis Bank shares were trading 4.3 per cent lower at Rs 805.45 on the BSE.

The bank’s net interest income rose to Rs 7,900 crore from Rs 7,326 crore in the same period last year and 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.

At that time BSE Sensex and NSE Nifty were trading flat.

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