Axis Bank Q3 net jumps 62% YoY to Rs 5,853 cr on robust interest income

The lender aims to maintain as much cushion on NIMs as possible

Axis Bank on Monday reported a 62 per cent year-on-year jump in standalone net profit for October-December to Rs 5,853.07 crore as strong growth in net interest income bolstered the bottomline despite higher provisions.

On a sequential basis, the private sector bank’s net profit rose 10 per cent from Rs 5,329.77 crore in July-September.

As has been the case with most banks that have reported earnings so far, Axis Bank’s net interest income rose sharply in October-December, coming in at Rs 11,459 crore, up 32 per cent YoY and 11 per cent sequentially.

In the third quarter of the current