Axis Bank’s June quarter net profit declined by 4% to ₹5,806 crore, falling short of estimates due to increased provisions and sluggish business income. Net interest income remained flat, and net interest margin contracted. Asset quality deteriorated, with a rise in gross non-performing assets and slippages, partly attributed to changes in technical recognition criteria.
India Inc reduced overseas bond issues on local liquidity, rupee fall
Indian companies scaled back overseas bond issuances as improved domestic liquidity and a weaker rupee made local fundraising more attractive.