Mumbai: Private sector lender Axis Bank today reported a 63.24% surge in net profit at Rs500.86 crore for the third quarter ended 31 December, 2008.
The bank had a net profit of Rs306.83 crore in the third quarter of the financial year ended 31 March, 2008, Axis Bank said in a filing to the Bombay Stock Exchange.
The total income rose 62.43% to Rs3,716.94 crore in the December quarter, from Rs2,290.24 crore in the same period previous fiscal.
During the quarter the bank’s interest income stood at Rs2,984.77 crore, a 66% jump over the year-ago period. The bank had an interest income of Rs1,802.34 crore in the December quarter of the 2008 fiscal.
Also Axis Bank’s interest expenditure dipped 95% to Rs2,055.09 crore during the quarter under review.
Shares of Axis Bank were trading at Rs491.65, down 5.84% in the late afternoon trade on the BSE.