Axis Bank's 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.
The average of the estimates of seven brokerages polled by Moneycontrol had forecast the net profit for the December quarter at Rs 5,321.5 crore.
Axis Bank reported a net profit of Rs 5,853 crore for the December quarter (Q3FY23), a growth of 62 percent year-on-year, beating street estimates comfortably.
The private sector lender's 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.
The average of the estimates of seven brokerages polled by Moneycontrol had forecast the net profit for the December quarter at Rs 5,321.5 crore. Net interest income (NII), the core income a bank earns through lending, was expected to grow 25 percent to Rs 10846 crore, the poll showed.
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Axis Bank’s Q3 net profit surges 62% to Rs 5,853 crore, beats estimates - Moneycontrol
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