MUMBAI: Axis Bank's Financial Update

Axis Bank has announced a 4% year-on-year increase in net profit for the December quarter, totaling Rs 6,304 crore. Despite this growth, the bank's performance did not meet the expectations set by financial analysts.

An executive from the bank highlighted that the net interest margin faced pressure due to higher reversals in agriculture loans. However, the bank saw a 9% rise in net interest income, reaching Rs. 13,606 crore, with the net interest margin holding steady at 3.9%.

Additional News Highlights

In other news, the entertainment industry was shaken by an attack on actor Saif Ali Khan. Kareena Kapoor, his wife, expressed her shock, while details emerged about the attacker being in their son Jeh's room. In response, 20 police teams have been formed to search for the accused.