Axis Bank’s net profit up 25.18 percent

October 22nd, 2011 - 6:45 pm ICT by IANS  

Mumbai, Oct 22 (IANS) Private lender Axis Bank Saturday reported an increase of 25.18 percent in its net profit for the second quarter of the current fiscal at Rs.920.32 crore, as compared to Rs.735.14 crore in the second quarter of the last fiscal.

The bank’s total income in the period under review grew by 39.79 percent at Rs.6,510.89 crore as compared to Rs.4,657.49 crore in the like period of 2010-11, said Axis Bank in regulatory filing to the Bombay Stock Exchange.

The bank’s income earned through interest rose by 45.57 percent in the second quarter at Rs.5,275.97 crore as against Rs.3,624.25 crore in the like period of last fiscal.

The other income of the bank increased by 19.51 percent at Rs.1,234.92 crore in the July-September quarter from Rs.1,033.24 crore in the corresponding quarter of 2010-11.

The percentage of gross non-performing assets (NPAs) declined to 1.08 percent in the second quarter from 1.12 in the corresponding quarter of last fiscal.

For the half-year, the bank reported an increase of 26.11 percent in its net profit at Rs.1,862.67 crore as against Rs.1,477.02 crore in the like period of 2010-11.

The total income of the bank for the half-year rose by 39.80 percent at Rs.12,560.16 crore as compared to Rs.8,983.86 crore in the corresponding period of last fiscal.

The percentage of gross NPAs also came down to 1.08 percent for the period under review from 1.12 percent in the first half of 2010-11.

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