Axis Bank posted a consolidated net profit increase of 4.91% to Rs 6,491.66 crore for Q3, with higher operating expenses impacting the results. The standalone net profit for the October-December period grew by less than 4% at Rs 6,071 crore. Core net interest income increased by 9% to Rs 18,087 crore, and non-interest income rose by 22% to Rs 5,555 crore. Total assets saw a 14% growth. However, the net interest margin narrowed to 4.01%, and operating expenses surged by 32% to Rs 8,946 crore, driven by non-staff expenditures. Axis Bank attributed the expenses to investments for the future.
Axis Bank Reports 4.91% Rise in Q3 Consolidated Net Profit, Cites Higher Operating Expenses
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