Axis Bank the first major lender to report September-quarter results on Oct. 15, reported an 26.4% slip in profit.
The bottomline of the bank was at Rs 5,090 crore this quarter compared to Rs 6,917.57 crore in the previous year.
The lender was expected to post a 15.6% year-on-year drop in net profit to Rs 5,838 crore, according to Bloomberg analysts. And this was attributed to margins contract and provisions increase.
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