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Axis Bank Q3 net profit trebles as income rises, provisions drop

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Axis Bank Q3 net profit trebles as income rises, provisions drop

Private sector lender Axis Bank on Monday reported that its net profit tripled year-on-year to Rs 3,614 crore in the December quarter of FY22 on higher revenue and lower provisions.

The bank’s total provisions and contingency expenses stood at Rs 1,335 crore, down 64% year-on-year. The bank reported total revenue of Rs 21,101 crore for the three months ended December 31, up 15 percent from a year earlier. Axis Bank’s net interest income (NII) – the difference between interest earned and interest paid – rose 17 per cent year-on-year to Rs 8,653 crore as its net interest margin (NIM), a key measure of profitability indicator) was 3.53%, a month-on-month increase of 14 basis points (bps). Axis Bank’s other income, including fees, trading profits and miscellaneous income, rose 31 percent year-on-year to Rs 3,840 crore in the three months to December.

The bank’s gross non-performing asset (NPA) ratio (non-performing loans as a percentage of total advances) was 3.17% in the third quarter of fiscal 2022, down 36 basis points quarter-on-quarter and down 27 basis points year-over-year. After provisions, the net NPA ratio was 0.91% in the third quarter, compared to 1.08% in the September quarter of FY22 and 0.74% in the same period last year.

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Puneet Sharma, chief financial officer at Axis Bank, said: “With our outlook on overall credit performance, we do expect credit costs to continue to moderate as we have shed significant wholesale exposure.”

Amitabh Chaudhry, chief executive of Axis Bank, said that over the past few years, the bank had set the right provisions to absorb the up-front Covid-19-related blow by not making excessive ECLGS loans or even restructuring. “This is reflected in improved asset quality,” Chowdhury said.

Launched on May 20, 2020, ECLGS provides 100% guarantee coverage to selected borrowers, although it was originally designed for small business borrowers with fund-based credit outstanding up to Rs 250 crore, it is now Other parts are also included.

The bank’s gross slippage in Q3FY22 was Rs 4,147 crore compared to Rs 5,464 crore in Q2 and Rs 7,993 crore in Q3 FY21. The slippage of the loan book was Rs 3,332 crore and the slippage of the investment risk was Rs 8.15 crore. Its recoveries and upgrades from NPA stood at Rs 3,288 crore during the quarter, while write-offs were at Rs 1,707 crore. Axis Bank’s advances rose 17% year-on-year to Rs 6.64 trillion as at December 31. Retail loans rose 18% year-on-year to Rs 3.67 trillion and accounted for 55% of net bank advances. The share of secured retail loans is 80%, and housing loans account for 37% of the retail book. The bank’s corporate loan book rose 13% year-on-year to Rs 2.29 trillion.

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“Mortgage loans are the largest (in the retail lending segment). But small business banking is growing strongly and personal loans are starting to show quarter-on-quarter growth. Growth in auto loans is limited due to supply-side issues,” Axis Bank Group Executive and Retail Lending Director Sumit Bali said.

Complete News Source : mint

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SOCIAL_MEDIA

KKR issue clarification on viral Kuldeep Yadav slapping Rinku Singh moment with fresh video

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KKR issue clarification on viral Kuldeep Yadav slapping Rinku Singh moment with fresh video

A shocking clip went viral on social media after Delhi Capitals lost their second consecutive game at home against Kolkata Knight Riders. DC spinner Kuldeep Yadav was caught on live TV slapping KKR batter Rinku Singh twice after the game. The clip shows Kuldeep, Rinku, and a few other players sharing a laugh after the game. Kuldeep then slapped Rinku, likely playful.

Manner, but it did not sit well with the latter. Rinku was left embarrassed and shocked at the sight. Kuldeep then slapped him again, this time, leaving him enraged as he had a word with his India teammate. The context behind Kuldeep’s act remains unknown, and fans on social media have called it his “worst behavior” and called for BCCI to “ban” him. The incident.

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Sparked controversy and speculation on social media Kolkata, April 30, 2025 — Following a day of intense backlash and speculation surrounding a viral video where Kuldeep Yadav appeared to slap Rinku Singh twice during a live broadcast, Kolkata Knight Riders (KKR) issued an influence millions,” said cricket commentator Harsha Bhogle. “There’s a thin line between. official clarification late Tuesday evening, releasing a new behind-the-scenes video to address.

The incident, which took place during a post-match interview after the IPL 2025 game between Delhi Capitals and KKR, sparked social media fury, with many fans demanding disciplinary action against Kuldeep. The visuals showed the left-arm spinner walking up to Rinku Singh and slapping him twice in quick succession the second slap drawing a visibly.

The controversy and calm public outrage.stunned and displeased reaction from the KKR star. The clip went viral, drawing criticism and questions about player conduct on national This may have been a joke, but there needs to be an understanding of optics. Live sports television However, in their official statement, KKR clarified that the moment was taken “out of context” and that both players are long-time friends engaging in “harmless banter.”

KKR’s Statement and Video Release

In a post shared on social media platforms, KKR wrote There’s more to the story than meets the eye. Friends on and off the field — Kuldeep and Rinku share a close bond, and what appeared to be aggressive was nothing more than playful teasing. Here’s the full clip for context The franchise attached a longer, unedited video showing the two players laughing.

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The video appears to support KKR’s claim that the incident was light-hearted and not malicious, although some fans continue to debate whether the act was appropriate for a live telecast and joking both before and after the slapping moment. In the extended footage, Rinku is seen smiling and lightly pushing Kuldeep back after the second slap, with both players sharing a brief hug and continuing their chat casually with the media team.

Rinku and Kuldeep Speak Out

Adding to the clarification, Rinku Singh posted on Instagram banter and discomfort Former cricketer Aakash Chopra echoed a similar the takeaway should be more about self-awareness on public platforms Bhai hai mera, sab mazaak tha doston! Don’t believe everything you see in a 5-second clip. Chill karo Kuldeep is like a brother, it was all a joke, friends! Don’t believe.

Mixed Reactions from Fans and Experts

While many fans expressed relief at the clarification, others continued to stress the also responded via X (formerly Twitter) everything you see in a short clip “When your brother plays for the other team, you tease him a little! Love you, Rinku! Good game, bro to
importance of maintaining professionalism on live broadcasts, even among close friend.

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