27 May 2019 | 12:23 AM

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COMPANYNEWS
Axis Bank posts Q4 net profit of Rs 1505.06 cr
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Published on 04-25-2019
The bank reported standalone net profit during the quarter stood at Rs 1505.06 crore compared to net loss of Rs 2188.74 crore in the previous year quarter.


Interest income of the bank rose by 25.71 per cent at Rs 14798.03 crore for the quarter ended March 31 2019 as against Rs 11771.19 crore in the corresponding period last year.


During the January-March quarter total income rose substantially by 25.86 per cent to Rs 18324.31 crore from Rs 14559.85 crore in the year ago period.


Meanwhile operating expenses increased by 22.25 per cent to Rs 13309.89 crore from Rs 10887.65 crore in the same period last year.


Operating profit surged 36.55 per cent to Rs 5014.42 crore from Rs. 3672.20 crore.


Provisions and Contingencies slipped by 62.23 per cent at Rs 2711.43 crore from Rs 7179.53 crore a year ago.


NII the difference between interest earned on loans and interest paid on deposits increased by 20.61 per cent at Rs 5705.59 crore versus Rs 4730.45 crore in the year ago period. Non-interest income rose 26.45 per cent year-on-year to Rs 3526.28 crore.


On the asset side gross non- performing assets (NPAs) fell to 5.26 per cent of the gross advances as at the end of March 31 2019 from a level of 6.77 per cent year earlier. Its net NPAs or bad loans too declined to 2.06 per cent of net advances on March 31 2019 from 3.40 per cent a year ago.