Axis Bank Q3 net profit rises 18 per cent to Rs 1,899.76 crore

Axis Bank on Friday reported an 18.4 per cent rise in its net profit to Rs 1,899.76 crore for the third quarter ended December 31, 2014.

The net profit of Axis Bank, the country's third-largest private sector lender, in the corresponding October-December period of FY14 stood at Rs 1,604.11 crore.

total income increased from Rs 9,433.55 crore in Q3 of FY14 to Rs 10,928.81 crore for the quarter under review, the bank said in a filing to the Bombay Stock Exchange (BSE).

However, regarding the asset quality, it said net as well as gross non-performing assets (NPAs) of the bank increased during the December quarter of FY15.

The gross NPAs stood at 1.34 per cent in Q3 FY15, over 1.25 per cent in the year-ago period. Net NPAs also rose marginally from 0.42 per cent to 0.44 per cent during the reporting quarter.

The Axis Bank scrip was trading at Rs 515.55 a piece, up 0.27 per cent on the BSE in afternoon trade.