New Delhi, July 18 -- Axis Bank's standalone net profit rose 22.5 per cent year-on-year to Rs 7,113.92 crore in Q1FY27, supported by a sharp decline in provisions and contingencies, even as pressure on other income and a rise in interest expenses moderated the growth in core operating profit. Net interest income (NII) increased 8 per cent to Rs 14,646.10 crore, while operating profit rose a modest 1.3 per cent to Rs 11,659.10 crore, according to the bank's exchange filing on Saturday.

The sharp rise in net profit was primarily driven by lower provisions. Provisions and contingencies fell 43.7 per cent year-on-year to Rs 2,222.54 crore in the quarter, from Rs 3,947.66 crore in Q1FY26. This helped profit before tax rise 24.8 per cent to Rs...