New Delhi, Jan 16 (UNI) Private lender Axis Bank on Thursday reported 3.83% year-on-year (YoY) rise in net profit to Rs 6,304 crore for October-December quarter (Q3) of the current financial year 2024-25.
The bank had posted a profit of Rs 6,071 crore in the December quarter of the previous financial year 2023-24.
Axis Bank’s Net Interest Income (NII) grew 9% year-on-year to Rs 13,606 crores in the Q3 of the current financial year. Net Interest Margin (NIM) for Q3FY25 stood at 3.93%.
In the December quarter of the current fiscal, Axis Bank’s non-performing assets (NPAs) declined marginally year-on-year and stood at 1.46% while net NPAs was at 0.35%.
“Provision and contingencies for Q3FY25 stood at Rs 2,156 crores. Specific loan loss provisions for Q3FY25 stood at Rs 2,185 crores. The Bank holds cumulative provisions (standard + additional other than NPA) of Rs 11,875 crores at the end of Q3FY25,” the Bank said in a media release.
Axis Bank’s advances grew 9% year-on-year and 1% quarter-on-quarter (QoQ) to Rs 10,14,564 crores as on 31st December 2024. Retail loans grew 11% YoY and 1% QoQ to Rs 6,05,825 crores and accounted for 60% of the net advances of the Bank.
