Axis Bank Q2 result, profit rises 35.51%

Axis Bank Ltd on Tuesday reported a 35.51% jump in its September quarter net profit after it made fewer provisions for bad loans.

The bank reported a profit of Rs432.38 crore compared with Rs319.08 crore a year ago. The bank had been expected to post a net profit of Rs1,318.30 crore, based on a poll of 20 analysts by Bloomberg.

Provisions and contingencies fell 13.31% to Rs3,140.41 crore from Rs3,622.74 crore a year ago. On a quarter-on-quarter basis, they rose 34.09% from Rs2,341.93 crore.

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DCB Bank Q2 result, profit up 21%

Private lender DCB Bank has reported a rise of 21% in its net profit at Rs59 crore for quarter ended September.

The bank had registered a net profit of Rs48 crore in the July-September quarter of 2016-17.

Total income of the bank grew by 24% to Rs313 crore during the reported quarter, from Rs252 crore in the year ago period, the bank said in a statement.

Net interest income or the core income of the bank rose to Rs248 crore in the second quarter of 2017-18 from Rs190 crore in the year ago period.

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Federal Bank Q2 net profit rises 31%

Federal Bank Ltd on Monday reported a 31% jump in its September quarter net profit due to improved asset quality and higher net interest income.

The bank reported a profit of Rs263.70 crore compared to Rs201.24 crore a year ago. The consensus of analyst estimates had pegged the profit at Rs254.40 crore.

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Karnataka Bank Q2 net profit down 25%

Karnataka Bank Ltd on Friday said its second-quarter net profit fell 24.58% on the back of higher provisioning. Net profit fell to Rs93.38 crore for the three months ended 30 September from Rs123.82 crore in the same quarter last year.

Profit was lower than the Rs131 crore estimated by a Bloomberg poll of two analysts.

Despite this, the bank increased provisions during the quarter to Rs225.98 crore as against Rs130.55 crore in the year-ago quarter. In the April-June quarter, the bank had set aside Rs198.88 crore in provisions.

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IndusInd Bank Q2 net profit rises 25%

IndusInd Bank Ltd on Thursday said its net profit for the September quarter rose 25% from a year ago due to higher net interest income and other income.

Net profit for the quarter stood at Rs880.10 crore versus Rs704.26 crore a year ago. According to estimates of 15 Bloomberg analysts, the bank was expected to report a profit of Rs886.50 crore.

Net interest income or the core income a bank earns by giving loans increased 24.7% to Rs1,820.99 crore from Rs1,460.31 crore last year. Other income was at Rs1,187.57 crore, up 22.38% from Rs970.42 crore.

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Lakshmi Vilas Bank Q2 net profit down 84%

Lakshmi Vilas Bank Ltd on Wednesday said its net profit in the second quarter fell 83.81% from a year ago due to higher provisioning.

Net profit fell to Rs10.50 crore for the three months ended 30 September from Rs64.85 crore in the same quarter last year.

Profit was lower than the Rs41.70 crore estimated by a Bloomberg poll of an analyst.

The bank increased provisions during the quarter to Rs187.38 crore from Rs62.57 crore a year ago. In the April-June quarter, the bank had set aside Rs112 crore in provisions.

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