Axis Bank Q1 FY18 standalone net profit declines 16.1% yoy: Estimates Mixed

India Infoline Research Team | July 25, 2017 16:47 IST

The GNPA for the quarter surged by 131% yoy to Rs. 22031 crore. Also, in terms of percentage to total advances GNPA’s rose by 249 bps yoy to 5.03%.

Axis Bank Ltd Q1FY18

Standalone Results Q1FY18: (Rs. in crore)

Q1FY18 YoY (%)
NII 4,616 2.2
NPA (%) 5.03 249
Provisions 2,342 10.6
Net Profit (adjusted) 1,306 [16.1]
***NPA change is bps
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Reco. Price

540.3

Last updated on

20-Jul-2017


The country’s third largest private lender, Axis bank reported its first quarter of FY18 today.

The bank’s results for the quarter came in mixed against the street estimates. The NII for the quarter came in 3.7% lower than the estimated figure of Rs. 4792 crore while its net profit came in 4.8% higher than the estimated figure of Rs. 1245 crore.

The NII during the quarter increased marginally by 2.2% yoy to Rs. 4616 crore. Additionally, net interest margin (NIM) in the quarter stood at 3.63%.

During the quarter bank made provision of Rs. 2342 crore, up by 10.6% yoy.

The GNPA for the quarter surged by 131% yoy to Rs. 22031 crore. Also, in terms of percentage to total advances GNPA’s rose by 249bps yoy to 5.03%.

The net profit for the quarter dipped by 16.1% yoy to Rs. 1306 crore.

The deposit as on 30 June, 2017 stood at Rs. 393741 crore, up by 10% yoy, while advances grew by 12% yoy to Rs. 385481 crore.
Its CASA deposits as percentage of total deposits stood at 49%.

The Bank’s Capital Adequacy Ratio (CAR) as per Basel III norms stood at 16.63%. Further, during the quarter, the bank raised Rs. 8500 crore through issuance of Tier I & Tier II Bonds, of which Tier I was Rs. 3500 crore and Tier II was Rs. 5000 crore.



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