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Axis Bank profit surges 62% in Q3: What's your strategy for the stock?

Axis Bank Q3: Net interest income rose 32 percent year-on-year to Rs 11,459 crore on the back of a strong 15 percent loan growth and an expansion in net interest margins.

January 24, 2023 / 10:11 AM IST
Axis Bank

Axis Bank

 
 
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Axis Bank will be in focus on January 24, a day after the lender beat Street estimates its December quarter earnings.

Axis Bank reported a net profit of Rs 5,853 crore for the third quarter (Q3FY23), a growth of 62 percent over the last year.

The private sector lender's net interest income climbed 32 percent on-year to Rs 11,459 crore on the back of a strong 15 percent loan growth and an expansion in net interest margins.

The bank reported a healthy loan growth of 15 percent to Rs 7.62 lakh crore with the main drivers being loans to retail and small businesses.