Axis Bank Q3 update: Net profit at ₹5,853 cr, up 62%; provisions pick up
- During the second quarter, Axis Bank posted a net profit of ₹5,330 crore up by 70% YoY, and net interest income (NII) of ₹10,360 crore surging by 31% YoY.
One of the leading private lenders, Axis Bank announced its financial results for the third quarter ending December 31, 2022 (Q3FY23) period. The bank posted strong growth of 62% year-on-year growth in net profit to ₹5,853.1 crore in Q3FY23. However, in the quarter, the bank's provisions scaled up sharply on a quarter-on-quarter basis, but asset quality improves further.
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