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Axis Bank reports a net profit of Rs 6,303.77 crore for the December 2024 quarter, which is 3.83 per cent as against a net profit of Rs 6.071.1 crore last year.
Axis Bank Q3 Results.
Private sector lender Axis Bank on Thursday reported a net profit of Rs 6,303.77 crore for the December 2024 quarter, which is 3.83 per cent as against a net profit of Rs 6.071.1 crore last year.
Axis Bank said its gross non-performing assets ratio, a key gauge of lenders’ asset quality, was at 1.46% at the end of December, compared with 1.44% three months earlier.
The lender’s provisions and contingencies, or funds kept aside for potential bad loans, more than doubled year-on-year to 21.56 billion rupees.
Indian lenders have been grappling with higher bad loans in segments such as microfinance and in the unsecured portfolio, forcing them to set aside more funds for potential bad loan losses and to strengthen their balance sheets.
