January 22, 2018 / 8:47 AM / a year ago

Axis Bank Q3 profit rises 25 pct, but lags estimate

Jan 22 (Reuters) - India’s Axis Bank Ltd posted a 25 percent rise in quarterly net profit, helped by higher interest and fee incomes as well as a drop in provisions for bad loans, although results fell slightly short of a consensus estimate.

Net profit rose to 7.26 billion rupees ($113.86 million) for the quarter ended December, from 5.80 billion rupees a year ago, the country's third-largest private sector lender by assets said on Monday. bit.ly/2DqYf7L

That was below the average estimate of 7.98 billion rupees from 21 analysts, Thomson Reuters data shows.

Gross bad loans as a percentage of total loans stood at 5.28 percent at end-December, compared with 5.90 percent in the previous quarter and 5.22 percent a year earlier. ($1 = 63.7625 Indian rupees) (Reporting by Krishna V Kurup in Bengaluru; Editing by Himani Sarkar)

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