Private-sector lender Axis Bank on Tuesday reported an impressive 131% year-on-year increase in net profit to `1,681 crore in Q3FY19 despite making a contingency provision of `600 crore. However, provisions grew 8.64% y-o-y to `3,054 crore on account of contingent provisions made by the bank. \u201cWe also made a contingent provision of `600 crore towards any potential slippages from the BB & below pool of corporate loans,\u201d the bank said in a statement. The profits were led by a healthy increase in the non-interest income which grew by 54% y-o-y to `4,001 crore. The rise in non-interest income was because of recoveries from written-off accounts and gains on sale of investments, the bank said in a regulatory filing. Recoveries for the quarter ended December 2018 stood at `998 crore. The net interest income (NII) rose 18% y-o-y to `5,604. NII is the difference between interest earned and interest paid by a bank. The net interest margin (NIM) rose 11 basis points (bps) to 3.47%. The lender\u2019s pre-provisioning profit grew at 43% y-o-y to `1938.5 crore. The lender\u2019s asset quality improved q-o-q with gross non-performing assets (NPA) of 5.75%, down 21 basis points over Q2FY19. The provisioning coverage ratio (PCR) stood at 75%. The net NPA at 2.36% was 18 bps lower over the previous quarter. Total advances as at the end of Q3FY19 stood at `4.75 lakh crore, up 13% y-o-y and grew by 4.16% q-o-q from `4.56 lakh crore in Q2FY19. The bank\u2019s capital adequacy ratio (CAR) stood at 15.81% under Basel 3 against 17.5% in the year-ago period. The minimum CAR under Basel 3 norms stands at 10.5%. Total deposits rose 26% y-o-y to `5.14 lakh crore. The current accounts savings accounts (CASA) deposits grew by 17% y-o-y amounting to 46% of total deposits in Q3FY19.