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Axis Bank Q2 result: Lender reports 70% YoY rise in net profit at Rs 5,330 crore

The figure beat street estimates as analysts had expected the bank to report a 45 percent YoY surge in its net profit for the quarter, supported by healthy core income growth and strengthening asset quality.

October 20, 2022 / 05:49 PM IST
Representative image

Representative image

Axis Bank on October 20 posted a 70 percent year-on-year (YoY) rise in its net profit, for the quarter ending September (Q2FY23).

Net profit grew 29% QoQ.

It reported a net profit of Rs 5,329.77 crore for the quarter under review. It had logged a profit of Rs 3,133 for Q2FY22 and Rs 4,125 crore for Q1FY23.

The YoY increase in net profit beat street estimates as analysts had expected the bank to report a 45 percent YoY surge for the quarter, supported by healthy core income growth and strengthening asset quality.