FX.co ★ Axis Bank Q2 Profit Rises

Axis Bank Limited, an Indian banking institution, announced a notable increase in its second-quarter profit, reporting earnings of 6,918 crore rupees, equivalent to 88.20 rupees per share. This marks a rise from the previous year's profit of 5,864 crore rupees or 75.28 rupees per share. The bank's operating revenues for the quarter increased by 16%, reaching 20,205 crore rupees, up from 17,349 crore rupees the year before. Additionally, the Net Interest Income experienced a 9% year-over-year growth, amounting to 13,483 crore rupees. The Net Interest Margin for the second quarter was recorded at 3.99%.