Beating analysts’ estimates, Axis Bank Ltd., India’s third-largest private sector bank, reported a 23% year-on-year increase in profit to ₹7,114 crore for the quarter ended June 30, 2026.The Bank’s Net Interest Income (NII) for the quarter stood at ₹14,646 crore up 8% YOY. Net Interest Margin (NIM) stood at 3.46%.Provision and contingencies for the quarter stood at ₹2,223 crore. Specific loan loss provisions stood at ₹2,079 crore. The Bank holds cumulative provisions (standard and additional other than Non-Performing Asset (NPA) of ₹15,608 crore as on June 30, 2026.This is over and above the NPA provisioning included in the Provision Coverage Ratio (PCR) calculations. “These cumulative provisions translate to a standard asset coverage of 1.24% as on 30th June 2026. On an aggregated basis, our Provision Coverage Ratio (including specific, standard and additional) stands at 161% of GNPA as on 30th June 2026,” the bank said in a filing.Credit cost (annualized) for the quarter ended 30th June 2026 stood at 0.63%.During Q4 of FY26, the Bank had proactively strengthened its balance sheet by voluntarily enhancing its prudent provisioning framework for standard assets, in line with its risk-management philosophy. “Based on an assessment of evolving and unpredictable macroeconomic and geopolitical uncertainties, the Bank had created an additional one-time provision of ₹2,001 crores during Q4FY26. The Bank has not drawn down from the West Asia provision