Axis Bank Ltd.

Country’s third largest private sector lender, Axis Bank has reported results for the quarter ended September 30, 2012.

The bank’s net profit for the quarter has registered growth of 22.08% at Rs 1123.54 crore as compared to Rs 920.32 crore for the quarter ended September 30, 2011. Its total income has increased by 27.18% to Rs 8280.29 crore for the quarter under review from Rs 6510.89 crore for the corresponding quarter of the previous fiscal.

Gross non-performing assets (NPAs) of the bank stood at 1.10% for the quarter as against 1.08% in the same quarter of previous year and 1.06% in the previous quarter. Net non-performing assets (NPAs) of the bank was at 0.33%, lower than 0.34% in the similar quarter of previous fiscal. The bank made provisions of Rs 509.4 crore in the quarter ended September 2012, almost double as compared to Rs 259 crore in the previous quarter. Meanwhile, the bank’s Capital adequacy ratio declined slightly to 12.99% versus 13.03% quarter-on-quarter.

Axis Bank is the third largest private sector bank in India. Axis Bank offers the entire spectrum of services to customer segments covering large and mid-corporate, SME, agriculture and retail business.