Axis Bank net up 22%

Riding on the back of lower expenses,Axis Bank has recorded a 22 per cent increase in net profit at Rs 1,123.54 crore for the second quarter ended September as against a profit of Rs 920.32 crore in the corresponding quarter last fiscal

Written by Express News Service | Mumbai | Published: October 16, 2012 12:57 am

Riding on the back of lower expenses,Axis Bank has recorded a 22 per cent increase in net profit at Rs 1,123.54 crore for the second quarter ended September as against a profit of Rs 920.32 crore in the corresponding quarter last fiscal.

The total income of the lender increased by 27 per cent to Rs 8,280.29 crore during the July-September quarter,from Rs 6,510.89 crore over the same period last year.

The bank continues to show strong performance in terms of growth of net interest income (NII),fee income and operating revenue. With slower growth of operating expenses compared to revenue,the bank’s operating profit and net profit have also shown healthy growth,Axis Bank said in a statement.

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