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Axis Bank reports 15 per cent rise in net profit at Rs 2,175 crore

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New Delhi :Private lender Axis Bank today reported a 15 per cent rise in net profit at Rs 2,175 crore for the December quarter.

Net profit for the same quarter last fiscal stood at Rs 1,900 crore.

Total income of the bank rose to Rs 12,531 crore, from Rs 10,929 crore in the year-ago period.

As on December 31 last year, Axis Bank’s portfolio quality deteriorated, with gross non-performing assets (NPAs) rising to 1.68 per cent of gross advances as against 1.34 per cent in the same quarter of the previous fiscal.

Its net non-performing assets also jumped to 0.75 per cent, from the earlier 0.44 per cent.

For the first nine months of 2015-16, the bank’s net profit rose 17 per cent to Rs 6,069 crore as against Rs 5,177 crore a year earlier.

PTI

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