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Axis Bank Q3 Net Profits Rise to Rs 1900 Crores; Asset Quality Steady
Private sector lender Axis Bank reported a Q3 net profit of Rs 1900 crores for the quarter ending Dec 31, 2014. Net profits in the corresponding period of last year was Rs 1604.1 crores.
Net interest income grew at Rs 3,589 crore in Q3FY15. Net interest income is the difference between interest earned on lending and the amount paid.
Gross non-performing assets (NPA) at Axis Bank as a percentage of gross advances increased marginally to 1.34 percent during the quarter as compared to 1.25 percent in the previous year.
Net NPA saw a marginal erosion at 0.44 percent as compared to 0.42 percent during the same period last year.
On sequential basis the NPAs remained the same as last year.
The shares of Axis Bank were last trading at Rs 518.20, up almost a per cent over Thursday's close.
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