Axis Bank Q3 net grows 15% to Rs 2,175 crore

Mumbai: Private lender Axis Bank Wednesday reported a 15 percent rise in net profit at Rs 2,175 crore for the December quarter.

Net profit for the same quarter last fiscal stood at Rs 1,900 crore.

Total income of the bank rose to Rs 12,531 crore, from Rs 10,929 crore in the year-ago period.

As on December 31 last year, Axis Bank's portfolio quality deteriorated, with gross non-performing assets (NPAs) rising to 1.68 percent of gross advances as against 1.34 percent in the same quarter of the previous fiscal.

Its net non-performing assets also jumped to 0.75 percent, from the earlier 0.44 percent.

For the first nine months of 2015-16, the bank's net profit rose 17 percent to Rs 6,069 crore as against Rs 5,177 crore a year earlier.