Axis Bank reports Q3 FY 2013 net profit of Rs 1347 crores

Axis Bank has reported better than expected net profits of Rs 1347.22 crores for the quarter ended December 31, 2012 as compared to Rs 1102.27 crore for the quarter ended December 31, 2011.

Total income has increased from Rs 7206.77 crore for the quarter ended December 31, 2011 to Rs. 8580.30 crore for the quarter ended December 31, 2012.

The asset quality at the bank has not deteriorated with the net non performing asset at 0.33. The Gross NPA has come in at 1.1 per cent and was little changed compared to the previous levels.

The Bank's capital adequacy ration stands at 13.73 per cent vs 12.99 per cent, quarter on quarter. The shares of Axis Bank were last traded at Rs 1406, up Rs 20 over the previous closing.

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