New Delhi. Private sector Axis Bank reported a standalone net profit of 86 per cent at Rs 3,133.32 crore in the second quarter (July-September) of FY 2021-22. With this, the bank had achieved a net profit of Rs 1,682.67 crore in the same period of the previous financial year.
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Axis Bank said in a statement given to the stock market on Tuesday that its total single income increased to Rs 20,134.39 crore during the second quarter (July-September) ended September 30, 2021, as compared to Rs 19,550 in the same period of the financial year 2020-21. crore was Rs.
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Apart from this, the asset quality of Axis Bank has also improved during the period under review. The bank’s gross non-performing assets (NPAs) or bad loans declined to 3.53 per cent of total advances at the end of September this year, from 4.18 per cent in the same period a year ago. However, the net NPAs of private sector Axis Bank increased from 0.98 to 1.08 per cent during this period. Also, the bank’s provision for bad loans and other contingencies for the quarter under review has come down from Rs 4,343 crore to Rs 1,735 crore.
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