Axis Bank Q2 net up 21%

Axis Bank on Thursday reported 21.2 per cent increase in net profit to Rs 1,362.31 crore for the second quarter ended September 30, 2013.

The bank had a net profit of Rs 1,123.54 crore in the corresponding quarter last fiscal, Axis Bank said.

The total income of the lender increased to Rs 9,375.08 crore during the July-September quarter, from Rs 8,280.29 crore over the same period last year.

Other incomes during the quarter rose to Rs 1,766.09 crore from Rs 1,593 crore in the same period a year ago.

The bank's balance sheet improved by 16 per cent to Rs 3,51,362.94 crore while its advances grew 17 per cent to Rs 2,01,303.16 crore at the end of September 2013.

Capital Adequacy Ratio (CAR) as per Basel II norms was 16.35 per cent at the end of the second quarter. As on September 30, 2013, gross NPAs and net NPAs stood at 1.19 per cent and 0.37 per cent, respectively, as against 1.10 per cent and 0.33 per cent, as on September 2012.

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