Axis Bank profit falls 1st time in 46 quarters
Private lender Axis Bank has reported a 1.22% year-on-year fall in net profit for the quarter ended March to ₹2,154 crore, the first fall in profits in 46 quarters. Gross non-performing assets (NPAs) rose to ₹6,087 crore from ₹5,724 crore in the previous quarter. The fall in profits was attributed to an increase in the bank's provisions against bad loans.