Axis Bank Q1 net profit rises 39 pc on core income, trading gains

Mumbai: Axis Bank on Wednesday reported a 39 per cent jump in its consolidated net profit for the June quarter at Rs 6,091.35 crore on the back of a healthy growth in core income and trading gains.

On a standalone basis, the country's third biggest private sector lender by assets reported a 41 per cent growth in its net profit at Rs 5,797



crore.

Its core net interest income was up 27 per cent to Rs 11,959 crore on the back of a 22 per cent growth in advances and a 0.50 per cent widening of the Net Interest Margin (NIM) at 4.10 per cent. The net interest margins moderated when compared with the quarter ago period's 4.22 per cent and 4.26 per cent in the December quarter.