Axis Bank Q1 net profit up 22% at Rs 1,153 crore for the quarter ended in June 2012, Latest Stock Price
India's third largest private sector lender Axis Bank 's first quarter (April-June) net profit rose more than 22% year-on-year to Rs 1,150 crore, boosted by a robust loan book that grew nearly 30% y-o-y to Rs 1.71 lakh crore.
During the quarter, the net interest income or the difference between interest earned and paid out increased sharply by about 27% to Rs 2,180 crore. The net interest margin (NIM) fell by 18 basis points to 3.37% sequentially. Fee income upped 9% y-o-y to Rs 1,155 crore.
The bank has increased its share of retail loans to 24% of the total loan book as compared with 22% earlier. It has also brought down its credit exposure to small and medium enterprises to around 13% of the total loans from 15% earlier.
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