Axis Bank on Wednesday reported a standalone net profit of Rs 1,682.67 crore for the September quarter. The private lender had reported a loss of Rs 112.08 crore in the year ago quarter. Analysts at an ET NOW poll had projected a profit figure at Rs 2,700 crore. Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, rose 20 per cent year-on-year (YoY) to Rs 7,326 crore. The net interest margin (NIM) stood at 3.58 per cent.
Published On: Oct 28, 2020