Axis Bank’s first quarter net profit surged 27% year-on-year to Rs 942 crore, beating analysts’ estimates by a wide margin. Net interest income—climbed 14% to Rs 1724.1 crore, driven by a healthy growth in the loan book.Total advances or loans expanded more than 21% to Rs 1.32 lakh crore, surpassing the Reserve Bank of India’s credit growth projection of 19% in FY12.
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