Axis Bank Q4 results: Net interest income during January-March 2023 jumps 33.1 per cent year-on-year to Rs 11,742.2 crore
Private sector lender Axis Bank on Thursday posted a standalone loss of Rs 5,728.42 crore for the March quarter of FY23. The loss is on account of the buying cost of Citi Bank’s India consumer business during the quarter.
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The lender had reported a profit of Rs 4,117.77 crore in the corresponding period last year.
Axis Bank’s board has recommended a final dividend of Re 1 per share for the financial year 2022-23, according to a BSE filing.
The bank’s net interest income, the difference between interest earned and interest expended, during January-March 2023 jumped 33.1 per cent year-on-year to Rs 11,742.2 crore.
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On the asset quality front, Axis Bank’s gross non-performing assets (GNPAs) improved by 80 basis points y-o-y and 30 bps q-o-q to 2.02 per cent at the end of March 2023 quarter. Its net NPAs also decline to 0.39 per cent, a decline of 34 bps y-o-y and 8 bps qoq.
Shares of Axis Bank on Thursday fell Rs 6.75 or 0.76 per cent to close at Rs 881.05 apiece on the BSE.
