Axis Bank net profit falls 21% to ₹1.5k cr in Q1
Axis Bank on Friday reported a net profit of ₹1,555.5 crore in the quarter ended June, a 21.4% drop compared to the year-ago period. Gross non-performing assets (NPAs) jumped 124.72% year-on-year to ₹9,553.17 crore, resulting in an 88.7% rise in provisions for bad loans to ₹2,117.17 crore. Further, total advances by the bank rose 21% to ₹3.45 lakh crore.