Axis Bank on Friday said its profit surged 83 per cent year-on-year to Rs 790 crore for the September quarter. The private lender had posted a profit of Rs 432 crore in the year ago period. Provisions for the recent quarter stood at Rs 2,927 crore, down 7 per cent on a yearly basis. Gross non-performing assets (NPA) at 5.96 per cent for the quarter was lower than 6.52 per cent reported as on June 30. Slippages fell to Rs 2,777 crore against Rs 4,337 crore in June quarter and Rs 8,936 crore in the year-ago period.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service