Axis Bank Q1 net profit jumps 91% to Rs 4,125 crore on firm NII growth

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Axis Bank reported a 91 per cent year-on-year (YoY) growth in standalone net profit to Rs 4,125.26 crore in the April-June quarter. This was led by firm growth in net interest income (NII) and improved margins. Sequentially, the private lender’s profit after tax (PAT) was steady, rising 0.2 per cent from Rs 4,117.77 crore a quarter ago.

During the quarter under review, Axis Bank’s NII — the difference between interest earned and interest expended — rose 21 per cent YoY and 6 per cent sequentially to Rs 9,384 crore.

The bank’s net interest margin (NIM) stood at 3.6 per cent