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Axis Bank clocks 41% profit growth in Q1
Mint Mumbai
|July 27, 2023
Private sector lender Axis bank reported a 41% year-on-year (y-o-y) increase in net profit for the first quarter of the current fiscal, driven by higher net interest income and fee income.

Net profit stood at ₹5,797 crore in the three months through June, compared to ₹4,125 crore during the corresponding period last year. The bank’s profit missed analyst estimates.
Net interest income (NII) or core income jumped 27% year on year to ₹11,958 crore during the quarter ended June, as against ₹9,384 crore during the corresponding period of last year.
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