Mumbai, July 26 -- Lender Axis Bank on Monday reported a rise of 94 per cent in its net profit for the first quarter (Q1) of 2021-22 on a year-on-year basis.

The net profit for the period under review rose to Rs 2,160 crore from Rs 1,112 crore for the corresponding period of previous fiscal.

"The bank's operating profit for the quarter grew 10 per cent YoY to Rs 6,416 crore while the core operating profit grew 13 per cent to Rs 5,896 crore," the bank said in a statement.

Net interest income (NII) zoomed by 11 per cent to Rs 7,760 crore during the quarter under review from Rs 6,985 crore earned during the corresponding quarter of the previous year.

The net interest margin (NIM) for Q1FY22 stood at 3.46 per cent.

Further, the bank said...