Axis Bank Q3 Profit Rises 4% to Rs 7,010 Crore; Retail Loans See 6% Growth

• Axis Bank reported a 4% increase in net profit for the December quarter, reaching Rs 7,010.65 crore.
• Standalone net profit for the October-December period grew to Rs 6,489.57 crore.
• Core net interest income rose by 5% to Rs 14,287 crore, driven by 14% loan growth despite a 0.29% NIM compression.
• Retail loans grew by 6% year-on-year, while lending to small businesses saw a 22% increase.
• Gross non-performing assets ratio improved to 1.40%, and overall provisions increased to Rs 2,245.92 crore.

Why It Matters: Axis Bank's Q3 profit grew by 4%, supported by overall loan growth and improved asset quality.