Axis Bank Q1 net up 22% to Rs 1,409 cr

Axis Bank Q1 net up 22% to Rs 1,409 cr Mumbai: Private sector lender Axis Bank Thursday reported 22 per cent growth in net profit to Rs 1,408.93 crore for the first quarter ended June 30, 2013.

The company had a net profit of Rs 1,154.15 crore in the April-June quarter of the previous fiscal, Axis Bank said in a filing on the BSE.

Total income of the lender rose to Rs 9,059.12 crore in the quarter under review, from Rs 7,818 crore in the corresponding period of last fiscal.

As of June 30, 2013, Axis Bank's gross non-performing assets (NPAs) rose to 1.10 per cent of advances as against 1.06 per cent in the same quarter of the previous fiscal.

It's net non-performing assets also rose from 0.35 per cent from 0.32 per cent.

The bank's Capital Adequacy Ratio (CAR) as of June 30 stood at 16.3 per cent.

Shares of Axis Bank were trading at Rs 1,239.55 apiece in the afternoon on the BSE, up 3.92 per cent from their previous close.