Lower fee income, higher provisions drag Axis Bank net profit

Fee income fell 38 per cent to Rs 1,651 crore. Net interest margin shrank 15 bps sequentially to 3.58 per cent due to surplus liquidity in the quarter under review. Net interest income (NII) rose 20 per cent year-on-year to Rs 6,985 crore. The stock rose 2.9 per cent to Rs 446.20 on the BSE Tuesday.

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