Axis Bank Q4 Results: Check consolidated net profit and other key earning details

Axis Bank on Thursday reported a 54 percent increase in its standalone net profit for the quarter ended March 2022, at Rs 4,117.77 crore, as per PTI report.

In the previous fiscal year, the country's third-largest private sector lender had a net profit of Rs 2,677.06 crore. Pic: Reuters

Axis Bank on Thursday reported a 54 percent increase in its standalone net profit for the quarter ended March 2022, at Rs 4,117.77 crore, as per PTI report.

In the previous fiscal year, the country's third-largest private sector lender had a net profit of Rs 2,677.06 crore.

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Axis Bank said in a regulatory filing that total income (standalone) increased to Rs 21,999.58 crore in January-March 2021-22, up from Rs 19,035.12 crore in the same period of 2020-21.

From Rs 6,588.50 crore in 2020-21 to Rs 13,025.48 crore in 2021-22, the net profit nearly doubled to Rs 13,025.48 crore, said PTI.

Its revenue climbed from Rs 75,609.83 crore to Rs 82,597.37 crore.

As of March 31, 2022, the bank's asset quality improved, with gross non-performing assets (NPAs) falling to 2.82 percent of gross loans, down from 3.70 percent at the end of March 2021.

According to PTI, gross NPAs fell to Rs 21,822.32 crore from Rs 25,314.84 crore.

Net NPAs (bad loans) fell to 0.73 percent (Rs 5,512.16 crore) from Rs 1.05 percent (Rs 6,993.52 crore) previously.

As a result, the lender's provisions for bad loans and contingencies were reduced to Rs 987.23 crore for the reporting quarter, down from Rs 2,167.34 crore in the previous quarter.

On a consolidated basis, net profit in Q4 FY22 increased by 50% to Rs 4,434 crore, up from Rs 2,960.40 crore the previous quarter. The overall income increased from Rs 19,850.11 crore to Rs 23,000.69 crore, said PTI.

Axis Bank's shares ended the day on the BSE at Rs 779.95 per share, up 1.81 percent from the previous close.

(With PTI inputs)

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