Axis Bank net down 16 per cent, NPA increases

Mumbai July 25 (IANS) Privately owned Axis Bank on Tuesday reported a 16 per cent fall in its net profit for the quarter ended June 30 as compared to the same period of the previous year.

In a regulatory filing with the BSE Axis Bank said it has posted a net profit of Rs 1 305.60 crore -- down from Rs 1 555 53 crore posted for the quarter ended June 30 2016.

Axis Bank had earned a total income of Rs 14 052.30 crore for the period under review as against Rs 13 852.18 crore during the same period of the previous year.

The bank s gross non-performing assets (NPAs) stood at Rs 22 030.87 crore as on June 30 2017 -- up from Rs 9 553.17 crore at the end of June 30 2016.

The net NPA at the end of the first quarter was Rs 9 765.98 crore -- up from Rs 4 010.23 crore as on June 30 2016.

--IANS
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