Axis Bank Q3 profit rises 4%; NIM contracts, NPAs decline
Financial Express Mumbai|January 24, 2024
AXIS BANK ON Tuesday reported a 4% rise in its net profit to ₹6,071 crore for the third quarter of the current financial year.
SACHIN KUMAR
Axis Bank Q3 profit rises 4%; NIM contracts, NPAs decline
  • MARGINALLY MISSES STREET EXPECTATIONS

The lender, the country's fifth-largest by market capitalisation, marginally missed the market expectations as Bloomberg analysts expected the bank to post a ₹6,117-crore net profit.

Operating expenses surged 32% to ₹8,946 crore for the quarter under review, compared with ₹6,754 crore in the same quarter a year ago.

Commenting about operating expenses, Puneet Sharma, chief financial officer, said in a conference call that the lender has been making these investments as part of transforming its business. "This is the right time to make these investments."

Net interest income, the difference between interest earned and paid, rose 9% to ₹12,532 crore, from ₹11,459 crore in the same quarter of the previous fiscal.

この記事は Financial Express Mumbai の January 24, 2024 版に掲載されています。

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この記事は Financial Express Mumbai の January 24, 2024 版に掲載されています。

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