Axis Bank Q1 Profit Rises to Rs 6,035 Cr - Business News
Jul 24, 2024 17:19
Axis Bank reported a 4% increase in net profit to Rs 6,035 crore in the June 2024 quarter, driven by higher interest income. The lender's gross NPA also improved.
Photograph: Danish Siddiqui /Reuters
New Delhi, Jul 24 (PTI) Private sector Axis Bank on Wednesday reported a 4 per cent increase in net profit to Rs 6,035 crore in the June 2024 quarter, mainly due to higher interest income.
The standalone net profit was Rs 5,797 crore during the April-June 2023-24 quarter.
The lender's interest income in the first quarter rose to Rs 30,060.73 crore against Rs 25,556.77 crore in the year-ago quarter, it said in a regulatory filing.
Its total income stood at Rs 35,844.22 crore during the reported quarter, up from Rs 30,644 crore a year ago.
The bank's gross NPA improved to 1.54 per cent in the June 2024 quarter compared to 1.96 per cent in Q1FY24.
Similarly, its net NPA improved to 0.34 per cent from 0.41 per cent in June 2023.
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