 "Axis Bank")
Axis Bank’s profit before tax (PBT) declined by 8.03 per cent to Rs 2,271.8 crore for the third quarter ended December (Q3FY20). The private lender had posted a pre-tax profit of Rs 2,470.14 crore in Q3 of FY19.
The stock closed lower by 0.7 per cent at Rs 712.7 per share on BSE.
Net profit in Q3 rose by 4.53 per cent to Rs 1,757 crore over Rs 1,680.8 crore in the same quarter of FY19. The bank benefited from the cut in corporation tax rate. The effective tax rate for the bank is down to 25 per cent from 33 per
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