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Private sector Axis Bank (Axis Bank Q2 Results) reported a 10 percent year-on-year rise in net profit to Rs. 5,863 crores. The bank gave this information on Wednesday. Axis Bank in the same quarter of the last financial year posted Rs. 5,329 crore net profit was earned.
The shares of this company rose due to the Israel-Hamas war, doubling the money in 10 months
During the quarter under review, Axis Bank’s total income rose to Rs. 31,660 crore as compared to Rs. 24,094 crores. The Bank’s Net Interest Income (NII) grew by 19 percent year-on-year to Rs. 12,315 crores.
The company got 280 crores of work, the shares were looted on the news.
Axis Bank Managing Director (MD) and Chief Executive Officer (CEO) Amitabh Chaudhary said that despite the immense volatility globally, the India story is strong. “We are seeing an increase in demand during the festive season. We expect good growth across all our business segments.”