NEW DELHI: Axis Bank on Wednesday posted a 39% rise in its consolidated net profit for the quarter ending June at Rs 6,091.35 crore on the back of a healthy growth in core income and trading gains.
On a standalone basis, India’s third-biggest private sector lender by assets posted a 41% growth in its net profit at Rs 5,797 crore. Its core net interest income was up 27% to Rs 11,959 crore due to 22% growth in advances and a 0.5% rise in net interest margin (NIM) at 4.1%.
NIM moderated when compared with the quarter-ago period’s 4.22% and 4.26% in the December quarter. The other income grew 74% to Rs 5,087 crore, helped largely by trading income of Rs 519 crore as against booking a loss of Rs 667 crore in the year-ago period.