Axis Bank Ltd Q1FY18
Standalone Results Q1FY18: (Rs. in crore)
|Net Profit (adjusted)||1,306||[16.1]|
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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