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Axis Bank reports 25% increase in Q3 profit YoY

Axis Bank has reported a 25% increase in net profit YoY at Rs.726 crore for the quarter ended December 31,2017. Last year, in the corresponding quarter it had reported a profit of Rs.580 crore.

Net interest income (NII) increased 9% YoY to Rs.4,732 crore for the quarter ended December 31,2017. Fee income was up 24% YoY at Rs.2,246 crore.

Gross non performing assets was down 5.28% in the December quarter from 5.9% in September quarter. Recoveries and upgrades stood at Rs.4,008 crore for the quarter. Write offs were at Rs.2,822 crore.

Further, net interest margin (NIM) for the quarter was at 3.38%. Retail and SME loan book increased to 29% and 27% respectively. Corporate loan growth increased 12%.

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