Axis Bank on Saturday reported a 23% year-on-year increase in standalone quarterly net profit, aided by lower provisions, even as its pre-provision operating profit grew just 1.3%.
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For the June quarter, the Mumbai-headquartered private sector bank's standalone net profit stood at ₹7,114 crore compared with ₹5,806 crore a year ago. Its pre-provision operating profit increased to ₹11,659 crore.
