Axis Bank’s Net Profit Down by 1.2% for Q4

Axis Bank UpdatesAxis Bank’s net profit in the fourth quarter is Rs 2154 crore which is down by 1.2% in compared to last year. Last year the profit in fourth quarter was Rs. 2180 crore. Although the bank has earned Rs 8224 crore as the net profit for the full year increased by 12 per cent from last year.

In March quarter net interest income was Rs 4552 crore of the bank rose by 20 per cent over the previous year. Besides, the bank’s total income has been increased from Rs 1238 crore to Rs 1359 crore. In the fourth quarter net interest margin was 3.97 per cent. Last year NIM was 3.79 per cent in the same period.

In the fourth quarter, the bank’s asset quality is stable. In last quarter the gross NPA was 1.68 per cent in compared to the fourth quarter, the bank’s gross NPAs are at 1.67 per cent. While the net NPA is 0.75 per cent against 0.70 per cent of the last quarter. Although as per the last year’s stats there is been an increase in the bank’s non-performing assets this year.

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