Axis Bank, private sector bank in India announced a decline in standalone net profit for the quarter ended June 2016. During the quarter, the profit of the bank declined 21.38% to Rs 15.55 billion from Rs 19.78 billion in the same quarter last year.

Total Income for the quarter rose 13.22% to Rs 138.52 billion, compared with Rs 122.34 billion for the prior year period.

In percentage terms, gross and net NPAs were 2.54% and 1.08% respectively as on June 30, 2016 compared with 1.67% and 0.70% respectively in the same period last year.

The bank's net interest income (NII) grew 11% yoy to Rs 45.17 billion during Q1FY17 from Rs 40.56 billion in Q1FY16. Net interest margin for Q1FY17 was at 3.79%.

Other income (comprising fee, trading profit and miscellaneous income) for Q1FY17 stood at Rs 27.38 billion as against Rs 22.98 billion during the same period last year.

Shares of the bank declined Rs 0.7, or 0.13%, to settle  at  Rs 537.55.  The total volume of shares traded  was  536,186 at  the BSE (Friday).