Axis Bk profit up 4%, misses estimates

MUMBAI: Axis Bank reported a 4% year-on-year rise in net profit for the Dec quarter, reaching Rs 6,304 crore. The profits were lower than expected by analysts. An executive said that the bank’s net interest margin came under pressure because of higher reversals in agriculture loans. Net interest income increased by 9% to Rs. 13,606 crore, while net interest margin stood at 3.9%.