<p>Axis Bank on Thursday reported a jump of 70 per cent in its standalone net profit at Rs 5,329.77 crore in quarter ended September 2022 on healthy core income aided by trimming of bad loans.</p>.<p>The country's third largest private sector lender had posted a net profit of Rs 3,133.32 crore in the year ago same quarter ended September 2021.</p>.<p>Total income on standalone basis rose to Rs 24,180 crore in September quarter of 2022-23 as against Rs 20,134 crore in same period of 2021-22, Axis Bank said in a regulatory filing.</p>.<p>Of this, the interest income during the quarter stood at Rs 20,239 crore, up by 24 per cent from Rs 16,336 crore.</p>.<p>On asset front, there was improvement with the gross non-performing assets falling to 2.50 per cent of the gross advances as of September 30, 2022 from 3.53 per cent by year-ago same period.</p>.<p>Net NPAs (bad loans) slid to 0.51 per cent from 1.08 per cent.</p>.<p>Bank's provisioning for bad loans and contingencies were thus brought down to Rs 549.78 crore for July-September quarter of FY23 from Rs 1,735 crore put aside by the lender for the same period of the previous fiscal.</p>.<p>Stock of Axis Bank closed at Rs 826.20 apiece on BSE, down by 0.42 per cent. </p>
<p>Axis Bank on Thursday reported a jump of 70 per cent in its standalone net profit at Rs 5,329.77 crore in quarter ended September 2022 on healthy core income aided by trimming of bad loans.</p>.<p>The country's third largest private sector lender had posted a net profit of Rs 3,133.32 crore in the year ago same quarter ended September 2021.</p>.<p>Total income on standalone basis rose to Rs 24,180 crore in September quarter of 2022-23 as against Rs 20,134 crore in same period of 2021-22, Axis Bank said in a regulatory filing.</p>.<p>Of this, the interest income during the quarter stood at Rs 20,239 crore, up by 24 per cent from Rs 16,336 crore.</p>.<p>On asset front, there was improvement with the gross non-performing assets falling to 2.50 per cent of the gross advances as of September 30, 2022 from 3.53 per cent by year-ago same period.</p>.<p>Net NPAs (bad loans) slid to 0.51 per cent from 1.08 per cent.</p>.<p>Bank's provisioning for bad loans and contingencies were thus brought down to Rs 549.78 crore for July-September quarter of FY23 from Rs 1,735 crore put aside by the lender for the same period of the previous fiscal.</p>.<p>Stock of Axis Bank closed at Rs 826.20 apiece on BSE, down by 0.42 per cent. </p>