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Axis Bank reports 5% y-o-y increases in Q3FY20 net profits

Jan 22, 2020 19:03 IST

Axis Bank's net profit rose 5% year-on-year to ₹1,757 crore in the quarter ended December 31. The bank’s net interest income grew 15% y-o-y to ₹6,453 crore during Q3 of financial year 2020.

The gross non-performing asset ratio improved 3 basis points sequentially to 5%. Provisions during the quarter increased 13.63% to ₹3,470 crore as against ₹3,054 crore in the year-ago quarter. In the July-September quarter, the bank had set aside ₹3,518 crore. Thus, the net NPA ratio rose to 2.09% from 1.99% in the second quarter.