A robust growth in net interest income and healthy growth in the balance-sheet helped Axis Bank post a net profit of Rs 735 crore for the quarter ended September 30, 2010, higher by 38 per cent from Rs 531 crore in the corresponding previous quarter.
However, given the upward pressure on cost of deposits, there could be some moderation in margins going ahead.
NIM was 3.68 per cent for the September quarter (3.52 per cent).
Axis Bank raised its base rate by 25 basis points to 7.75 per cent from 7.25 per cent, earlier this month.
Gross non-performing assets (NPAs) were at Rs 1,362 crore (Rs 1,132 crore). During the quarter, the bank added Rs 445 crore to gross NPAs, it saw recoveries and upgradations of Rs 130 crore, and write-offs of Rs 294 crore. The bank restructured loans amounting to Rs 60 crore. .
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