Axis Bank posts Rs 7,129 cr net profit in March quarter

PTI

Mumbai, April 24

Private sector lender Axis Bank on Wednesday reported a net profit of Rs 7,129.67 crore for the fourth quarter ended March 31, 2024, as against a loss of Rs 5,728.42 crore in the year-ago period. Total income rose to Rs 35,990 crore in the March quarter of 2023-24 fiscal, from Rs 28,758 crore a year ago. The bank’s net interest income (NII) grew 11 per cent year-on-year (YoY) to Rs 13,089 crore.

For 2023-24 fiscal, the net profit jumped 160 per cent to Rs 24,861 crore. Axis Bank’s gross non-performing asset (NPA) stood at 1.43 per cent, down from 2.02 per cent in Q4 of 2022-23.

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