Axis Bank for the September quarter of FY22 reported the highest ever standalone net profit of Rs. 3133 crore due to the accelerating loan growth in the main segments, limited restructuring and better asset quality. In the year ago, the net profit was reported at Rs. 1682 crore.
The net interest income at the bank for the quarter saw a surge to Rs. 7901 crore from the last year's figure of Rs. 7326 crore.The operating profit has come in at Rs. 5928 crore, while the core operating has been at Rs.5456 crore.
Commenting on the results, Axis Bank MD & CEO, Amitabh Chaudhry said, "On the business front we are seeing solid progress. We continue our focus on SMEs and mid-corporate segments, and on the retail side we see better disbursements and growth driven by secured products. We really hope to make the upcoming festivities special for our customers, with our 'Dil Se Open Celebrations' providing exciting deals and discounts across e-commerce platforms and local retailers."
Before the results, the stock of Axis Bank closed lower at Rs. 842 per share.