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Axis Bank Q2 net up 25%

Axis Bank Q2 net up 25%
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First Published: Sat, Oct 22 2011. 08 30 AM IST

Updated: Sat, Oct 22 2011. 03 51 PM IST
Mumbai: Axis Bank Ltd posted a net profit of Rs920 crore in the quarter ended September 2011 up 25% from Rs735 crore in the corresponding quarter last year rising on growth in both interest as well as non-interest income.
The profit was in line with Bloomberg’s estimates of Rs920 crore.
Net interest income rose 24% to Rs3,688 crore from Rs2,429 crore last year as demand for loans from the bank increased 26.68% to Rs1.40 trillion from Rs1.10 trillion last year.
Fee Income increased 32% to Rs1,121 crores compared to Rs849 crore at the end of September last year riding on fees from retail banking and treasury and debt capital markets.
Fee from the equity capital markets division however fell 2.11%, reflecting the conditions in the equity markets.
Provisions increased to Rs406 crore from Rs379 last year as total non-performing loans increased 28% to Rs1,744 crore from Rs1,362 crore last year.
Axis Bank shares ended at Rs1,124.25 a piece on Friday on the Bombay Stock Exchange (BSE), down 0.55% from Thursday’s close.
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First Published: Sat, Oct 22 2011. 08 30 AM IST
More Topics: Company results | Axis Bank | Q2 | Profit | Banking |