April 18, 2024 15:57 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Telangana missionary school vandalised after students questioned over saffron attire | Shilpa Shetty's husband Raj Kundra's properties attached by ED in Bitcoin scam | 'Daydreaming': Ravi Shankar Prasad on Rahul Gandhi's claim that BJP won't cross 150 seats | US reacts to Elon Musk's X post on India's permanent UNSC seat | 10 dead as car rams into truck on Ahmedabad-Vadodara expressway in Gujarat
Axis Bank net profit rises 4% YoY to Rs 6,071 cr in Q3FY24

Axis Bank net profit rises 4% YoY to Rs 6,071 cr in Q3FY24

India Blooms News Service | @indiablooms | 24 Jan 2024, 01:01 am

New Delhi/UNI: Private sector lender Axis Bank on Tuesday reported a 4% year-on-year rise in profit at Rs 6,071 crores for the October-December quarter (Q3) of the current financial year 2023-24.

The bank had posted a profit of Rs 5,853 crore in Q3 of 2022-23.

Net Interest Income (NII) of the bank grew 9% year-on-year to Rs 12,532 crore in the December quarter of the current financial year as against Rs 11,459 crore in the corresponding period of FY23.

NII is the difference between the interest income a bank earns from lending and the interest it pays to the depositors.

As of 31st December 2023 Axis Bank’s reported Gross non-performing asset (NPA) and Net NPA levels were 1.58% and 0.36% respectively as against 1.73% and 0.36% as on 30th September 2023.

The bank’s advances grew 22% YOY and 4% QOQ to Rs 9,32,286 crores as on 31st December 2023.

"At Axis Bank, our focus has been on sustainable and inclusive growth, with customer taking the center stage in every discussion," said Amitabh Chaudhry, MD&CEO, Axis Bank.

He also said that Indian economic momentum has been strong in FY24 and the trend will continue well into FY25.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.