Millennium Post

Axis Bank Q3 net up 18%; treasury income soars

Country’s third largest private sector lender Axis Bank on Friday posted 18.4 per cent increase in December quarter net profit at Rs 1,899.76 crore, up from Rs 1,604.11 crore a year-ago, on the back of a massive jump in treasury income.

The bank’s core net interest income rose 20 per cent to Rs 3,590 crore during the reporting quarter, while the other income grew at higher 24 per cent to Rs 2,039 crore, because of treasury gains.

The higher profit comes despite a marginal drop in its net interest margin at 3.93 per cent and an increase in gross non-performing assets ratio at 1.34 per cent.
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