High provisions drag Axis Q3 net down 36%

Profit declined to Rs 1,116 crore from Rs 1,757 crore in the same period last year. Provisions in the quarter increased 33 per cent to Rs 4,604 crore against Rs 3,470 crore in the year-ago period. Out of this, specific loan-loss provisions for the quarter were at Rs 1,053 crore.

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