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Private lender Axis Bank on Tuesday reported 131 per cent year-on-year (YoY) surge in standalone profit at Rs 1,681 crore. The bank had posted a profit of Rs 726 crore in the year ago period. Analysts in an ET NOW poll had projected the profit at Rs 1,235 crore. Miscellaneous Income for the quarter jumped to Rs 1,007 crore from Rs 148 crore in the year-ago quarter..
The Economic Times | A Times Internet Limited product
Private lender Axis Bank on Tuesday reported 131 per cent year-on-year (YoY) surge in standalone profit at Rs 1,681 crore. The bank had posted a profit of Rs 726 crore in the year ago period. Analysts in an ET NOW poll had projected the profit at Rs 1,235 crore. Miscellaneous Income for the quarter jumped to Rs 1,007 crore from Rs 148 crore in the year-ago quarter.
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Riding on lower provisioning and improved asset quality, state-run State Bank of India SBI) on Friday reported a net profit of Rs 2,312 crore during the first quarter ending June against a net loss of Rs 4,876 crore during same period of 2018-19. India's largest lender's April-June profit was 176 per cent higher sequentially over the net profit registered during the fourth quarter of the last fiscal. In the January-March quarter, the bank reported a net profit of Rs 838.40 crore.
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Axis Bank on Thursday reported net profit of Rs 1,505.06 crore for quarter ended March 31. The private lender had reported a loss of Rs 2,188.74 crore in the corresponding quarter last year.
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