Axis Bank Q3 net jumps 62% YoY to Rs 5,853 cr on robust interest income

The lender aims to maintain as much cushion on NIMs as possible

Bhaskar Dutta Mumbai
Axis Bank

Axis Bank on Monday reported a 62 per cent year-on-year jump in standalone net profit for October-December to Rs 5,853.07 crore as strong growth in net interest income bolstered the bottomline despite higher provisions.
On a sequential basis, the private sector bank’s net profit rose 10 per cent from Rs 5,329.77 crore in July-September.
As has been the case with most banks that have reported earnings so far, Axis Bank’s net interest income rose sharply in October-December, coming in at Rs 11,459 crore, up 32 per cent YoY and 11 per cent sequentially.

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First Published: Jan 23 2023 | 8:57 PM IST

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