Axis Bank’s NPAs continue to be healthy
Private lender Axis Bank on Tuesday reported a 3.7 per cent jump in its net profit in the quarter that ended on December 31, 2023, at Rs 6,071 crore as compared to Rs 5,853.07 crore a year ago.
The bank’s net interest income, the difference between the interest earned from lending and the interest paid, was reported at Rs 12,532 crore.
The bank’s non-performing assets (NPAs) continued to stay healthy. Axis Bank’s gross NPAs fell to 1.58 per cent in the quarter from 1.73 per cent in the previous quarter. Its net NPAs, however, remained the same at 0.36 per cent in the quarter.
At the end of the quarter, the bank’s provisions stood at Rs 1,028.34 crore. It was higher than Rs 814.56 crore in the previous quarter.
On Tuesday, the shares of Axis Bank closed 2.84 per cent in the red at Rs 1,088.90 apiece on BSE.
First Published: Jan 23 2024 | 4:29 PM IST
