Axis Bank, a private lender, has posted a 10% year-on-year increase in net profit to Rs 5,864 crore for Q2FY24. The operating profit for the quarter also grew by 12% YoY to Rs 8,632 crore, and the net interest margin stood at 4.11%. Net interest income saw a robust 19% YoY surge to Rs 13,315 crore. The bank’s asset quality improved, with gross non-performing assets (NPA) at 1.73% in Q2FY24, down from 2.5% in Q2FY23. Axis Bank’s CEO, Amitabh Chaudhry, expressed optimism due to increased demand during the festive season, noting the bank’s steady growth across major business verticals.