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Axis Bank Q2 net up by 21%
Highlights
Axis Bank Quarter Two Net Up By 21 Percent. Axis Bank on Thursday reported a 21.2 per cent increase in net profit to Rs. 1,362.31 crore for the second quarter ended September 30, 2013. Axis Bank Quarter Two Net Up By 21 Percent, Axis Bank Net Profit, Axis Bank Net Profit Up.
Axis Bank on Thursday reported a 21.2 per cent increase in net profit to Rs. 1,362.31 crore for the second quarter ended September 30, 2013. The bank had a net profit of Rs. 1,123.54 crore in the corresponding quarter last fiscal, Axis Bank said in a filing to the BSE.
The total income of the lender increased to Rs. 9,375.08 crore during the July-September quarter, from Rs. 8,280.29 crore over the same period last year.
Other incomes during the quarter rose to Rs. 1,766.09 crore from Rs. 1,593 crore in the same period a year ago.
During the first half of 2013-14, the bank clocked nearly 18 per cent rise in net profit to Rs. 2,771.24 crore, compared to Rs. 2,277.06 crore in the same period last year.
The bank reported a total income of Rs. 18,434.20 crore in the first six months, compared to Rs. 16,098.66 crore in the previous financial year.
The bank’s balance sheet improved by 16 per cent to Rs. 3,51,362.94 crore while its advances grew 17 per cent to Rs. 2,01,303.16 crore at the end of September 2013.
Capital Adequacy Ratio (CAR) for the bank as per the Basel II norms was 16.35 per cent at the end of the second quarter.
As on September 30, 2013, Gross NPAs and Net NPAs stood at 1.19 per cent and 0.37 per cent, respectively, as against 1.10 per cent and 0.33 per cent, as on September 2012.
Shares of the bank were trading at Rs. 1,093.85 per unit, up 1.16 per cent on the BSE.
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