Axis Bank Q2 Profit Surges 18% to Rs 6,918 Cr

New Delhi, Oct 17 (PTI) Axis Bank on Thursday reported an 18 per cent growth in net profit to Rs 6,918 crore in the second quarter ended September 2024.

The private sector lender had earned a net profit of Rs 5,864 crore in the same quarter a year ago.

Its total income increased to Rs 37,142 crore during the quarter under review against Rs 31,660 crore in the same period last year, Axis said in a regulatory filing.

The bank earned an interest income of Rs 30,420 crore during the quarter compared to Rs 26,626 crore a year ago.

With regard to asset quality, the bank was able to reduce gross non-performing assets (NPAs) to 1.44 per cent of the gross loans by the end of September 2024 from 1.73 per cent a year ago.

Similarly, net NPAs or bad loans came down to 0.34 per cent from 0.36 per cent at the end of the second quarter of the previous fiscal.

Capital Adequacy Ratio increased to 16.61 per cent against 16.56 per cent at the end of the second quarter of last fiscal.