Axis Bank net down 16 per cent, NPA increases

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Mumbai, July 25 (IANS) Privately owned Axis Bank on Tuesday reported a 16 per cent fall in its net profit for the quarter ended June 30, as compared to the same period of the previous year.

In a regulatory filing with the BSE, Axis Bank said it has posted a net profit of Rs 1,305.60 crore — down from Rs 1,555,53 crore posted for the quarter ended June 30, 2016.

Axis Bank had earned a total income of Rs 14,052.30 crore for the period under review as against Rs 13,852.18 crore during the same period of the previous year.

The bank’s gross non-performing assets (NPAs) stood at Rs 22,030.87 crore as on June 30, 2017 — up from Rs 9,553.17 crore at the end of June 30, 2016.

The net NPA at the end of the first quarter was Rs 9,765.98 crore — up from Rs 4,010.23 crore as on June 30, 2016.

–IANS

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