Private sector lender Axis Bank said on Friday that the net profit was up 4 per cent at ₹6,035 crore for the April-June quarter of 2024-25 from ₹5,797.1 crore during the same period of the last fiscal. The net interest income was at ₹13,448 crore for this quarter as against ₹11,959 crore a year ago. Net interest margin for Q1FY25 came in at 4.05 per cent, down a tad from 4.10 per cent in the year-ago period.
While the asset quality showed a minor decline with the gross non-performing assets ratio rising to 1.54 per cent of total loans from 1.43 per cent in the previous quarter, the net NPA ratio rose to 0.34 per cent from 0.31 per cent.
Gross NPAs were at ₹16,211 crore versus ₹15,127.1 crore in the previous quarter and net NPAs at ₹3,553 crore versus ₹3,247.5 crore. Provisions for the quarter rose to ₹2,039 crore against ₹1,035 crore in the corresponding period a year ago. The bank's shares closed at ₹1,239.75 each, down 1.83% on the BSE.
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