Axis Bank Q3 profit falls 36% to ₹1,117 crore


Private sector lender Axis Bank on Wednesday reported a 36.4% decline in standalone net profit to ₹1,116.60 crore for the third quarter ended December 2020. The bank had posted a net profit of ₹1,757 crore in the corresponding period of the previous fiscal.

Total income slipped to ₹19,274.39 crore as against ₹19,494.87 crore in the year earlier period, Axis Bank said in a regulatory filing.

“Reported profits after tax for the quarter are adversely impacted to the extent of ₹1,050 crore on account of prudent expenses and provisioning charges during the quarter,” it said.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.

.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.