Axis Bank Ltd, country's third-biggest private sector lender by assets, reported a better-than-expected 14.5 per cent increase in third-quarter profit, although its bad loans shot up.
Net profit rose to Rs 21.75 billion ($320 million) for the three months to December 31 from Rs 19 billion a year earlier, the Mumbai-based bank said on Wednesday.
Analysts on average had expected a net profit of Rs 20.85 billion, according to data compiled by Thomson Reuters.
Gross bad loans as a percentage of total loans rose to 1.68 per cent at end-December from 1.38 per cent in the previous three months.
($1 = Rs 67.9700)
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