Q4FY17 Results: Axis Bank
Rohan Takalkar / 26 Apr 2017
The decline in provisions led to rise in net profit by 111% QoQ in net profit to Rs 1225 crore in Q4FY17 versus Rs. 579 crore.
Axis Bank posted its Q4FY17 results today.
The bank’s NII for the quarter increased 9.1% QoQ to Rs 4728 crore as against Rs 4333 crore in Q3FY17, led by 4.8% decline in interest expenses.
Its provisions for bad loans has been reduced by 32% QoQ to Rs 2581 crore as compared to Rs 3795.8 crore in Q3FY17. The decline in provisions led to rise in net profit by 111% QoQ in net profit to Rs 1225 crore in Q4FY17 versus Rs. 579 crore. However, its net profit on YoY basis declined 43%.
The provision coverage ratio (PCR) improved to 65% from 64% QoQ
The GNPAs for the quarter improved marginally by 18 bps to 5.04% as against 5.22% in Q3FY17.
The deposits of the bank increased 15% to Rs 414,378 crore and net advances grew 10% YoY, led by retail, which grew 19% YoY.
Its capital adequacy ratio (CAR - Basel II) stood at 14.95 per cent in Q4FY17 16.03% in Q3FY17.
Axis Bank’s stock closed marginally up by 0.42 per cent at Rs 517.
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