Axis Bank Q1 profit inches up 5.7 pc to Rs 6,436 cr; reports challenges on retail asset quality

MUMBAI: Axis Bank on Wednesday reported a 5.66 per cent rise in consolidated net profit for the June quarter at Rs 6,436 crore, restricted by challenges on the asset quality front.

On a standalone basis, the third biggest private sector lender reported a 4 per cent rise in net profit at Rs 6,035 crore.

The core net interest income grew 12 per cent to Rs 13,448 crore during the quarter on the back of the net interest margin (NIM) staying stable at 4.05 per cent and 14 per cent growth in advances. The other income grew 14 per cent to Rs 5,783 crore during the quarter.