Axis Bank Q1 net up 18.7% at Rs 1,978 crore

Axis Bank Q1 net up 18.7% at Rs 1,978 crore

Axis Bank, the country’s third-largest private sector bank, today reported a 18.72% rise in net profit to Rs 1,978 crore in the April-June quarter as compared to Rs 1,666 crore in the same quarter of the previous financial year.

Gross NPA came in at 1.38% compared to 1.34% q-o-q. Net NPA was 0.48% compared to 0.44% q-o-q.

The net interest income came in at Rs 4,057 crore.

Provisions were at Rs 1,122 crore compared to Rs 710 crore q-o-q.

The stock was down 0.28% at Rs 582.20 on the BSE at 2:27 pm.