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Axis Bank Q3 net up 18 per cent at Rs 1,899 crore

Axis Bank --621x414

New Delhi: Private sector lender Axis Bank reported a 18.4 per cent rise in its net profit to Rs 1,899.76 crore for the third quarter ended December FY15.

The third largest private sector bank’s net profit in the corresponding October-December quarter of FY14 stood at Rs 1,604.11 crore.

“Total income has increased from Rs 9,433.55 crore for the quarter ended December 31, 2013 to Rs 10,928.81 crore for the quarter ended December 31, 2014,” it said in a filing to the BSE.

However on the asset quality, net as well as gross non-performing assets (NPAs) of the bank increased during the quarter under review.

The gross NPAs stood at 1.34 per cent in Q3FY15, over 1.25 per cent in the year ago period. Net NPAs also rose marginally to 0.44 per cent from 0.42 per cent during the period under review.

Shares of the bank were trading at Rs 515.55 apiece, up 0.27 per cent on the BSE in noon trade.

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