Axis Bank Q2 Results: Net Profit Up 86% On Lower Provisions

Axis Bank Ltd.’s quarterly profit rose in the second quarter as provisions fell. Net profit jumped 86% year-on-year to Rs 3,133.3 crore in the three months ended September, the private lender said in an exchange filing. Analysts polled by Bloomberg estimated a net profit of Rs 2,649.6 crore. The bank’s net interest income, or core income, rose 8% over the preceding year to Rs 7,900 crore. Net interest margin stood at 3.39%.

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