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Axis Bank’s Q2 Net Profits Grow 36%
October 24, 2017
Undeterred by the bad loans, Mumbai-headquartered Axis Bank reported a circa 36% increase in the net profits during the second quarter that ended in September. While the net profits during the same quarter stood at Rs. 319 crores last year, this year they stood at Rs. 432 crores. Its total income has also increased from Rs. 13,698 crores to Rs. 13,821 crores on a year-over-year basis.
Currently, the lender has total outstanding loans worth Rs. 7,041 crores against the mega Insolvency and Bankruptcy Code (IBC) accounts as mentioned in the RBI list.
