Axis Bank on Tuesday posted a consolidated net profit of Rs 2,960.4 crore for the March quarter against a loss of Rs 1,250 crore in the year-ago period, and warned of an immediate business impact because of the second wave of Covid.

The bank’s standalone net profit came at Rs 2,677 crore for the reporting quarter.

Total income stood at Rs 20,213.46 crore against Rs 20,219.57 crore a year ago.

Provisions for bad loans and contingencies declined significantly to Rs 3,294,98 crore compared with Rs 7,730.02 crore same quarter in the previous financial year.

During the quarter, the net interest income (NII) grew by 11 per cent to Rs 7,555 crore from Rs 6,808 crore.

Bajaj Finance

Bajaj Finance on Tuesday reported a 42 per cent jump in consolidated net profit at Rs 1,347 crore for the March quarter of 2020-21.

The company’s net profit stood at Rs 948 crore in the January-March period of 2019-20.

The consolidated figures include results of wholly-owned subsidiaries Bajaj Housing Finance Ltd (BHFL) and Bajaj Financial Securities Ltd (BFinsec).