Axis Bank reported an over three-fold rise in its net profit to Rs 3,614 crore in the quarter ended December 2021 led by strong growth in loans and improvement in asset quality.
The bank's total income during the October-December period of 2021-22 rose to over Rs 21,101 crore from Rs 18,355 crore in the same quarter of 2020-21, Axis Bank said.
The bank's Net interest income gained by 17 per cent to Rs 8,653 crore during the December 2021 quarter, while the net interest margin improved by 14 basis points to 3.53 per cent.
The gross non-performing assets (NPAs) of the bank improved to 3.17 per cent of the gross loans as of December 31, 2021, from 3.44 per cent in the year-ago same period, stated Axis Bank.
(With inputs from PTI)
