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Axis Bank has posted a 46% year-on-year (YoY) fall in net profit at Rs.701 crore, for the quarter ended June 2018.
The bank in the same quarter last year had posted a 16% YoY fall in net profit at Rs.1,305.60 crore. During the quarter under review, provisions towards bad loans rose 42.5% to Rs.3,337.7 crore, as against Rs.2,342 crore in June end 2017.
Gross non-performing assets (NPAs) as a percentage of total loans reduced to 6.52% in Q1FY19, from 6.77% in Q4FY18. Net NPAs also decreased to 3.09%, from 3.40% in the fourth quarter.
