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Axis Bank's December Quarter Net Profit Skyrockets 3-Folds To Rs 3,614 Crores

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Axis Bank's net revenue for December quarter increased three-foldsNew Delhi: Country's 3rd biggest economic sector lending institution, Axis Rely on Monday reported more than three-fold dive in its net earnings at Rs 3,614 crore in the 3rd quarter of the existing financial, on strong development in loans and improved possession quality.It had actually recorded a net revenue of Rs 1,117 crore during the matching period of last year.The bank's total earnings throughout the October-December period of 2021-22 rose to over Rs 21,101 crore from Rs 18,355 crore in the exact same quarter of 2020-21, Axis Bank said in a regulatory filing.Net interest earnings was up by 17 percent to Rs 8,653 crore throughout the December 2021 quarter, while the net interest margin enhanced by 14 basis indicate 3.53 per cent.The lending institution signed up 18 per cent year-on-year growth in retail loans, 20 per cent growth in SME loans and 13 per cent development in business loan book.The charge card spend of the bank increased by 52 percent from a year ago.The gross non-performing properties (NPAs) of the bank enhanced to 3.17 percent of the gross loans as of December 31, 2021 from 3.44 per cent in year-ago exact same period.

Net NPAs were, nevertheless, grew 0.91 per cent from 0.74 percent.




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