Axis Bank PAT up by 88.67 per cent in Q1

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Mumbai, July 14 (UNI) Axis bank today announced a 88.67 per cent jump in its net profit for the first quarter of the current fiscal at Rs 330.14 crore.

The Bank in a release said that the net profit for the corresponding period last year was Rs 174.98 crore. The net profit was recorded after making a provision of Rs 225.20 crore on the depreciation of the Bank's investment portfolio, on account of weakening financial markets, the release said.

The Bank has ended the first quarter of the current financial year with Net NPAs at 0.47 per cent of Net Customer Assets and with a capital adequacy ratio of 13.25 per cent. The net Interest Income at Rs 810.46 crore saw a 02.55 per cent jump year on year with the fee income rising by 70.77 per cent at Rs 493.54 crore.

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