Axis Bank Ltd Q4FY17
Standalone Results Q4FY17: (Rs. in crore)
|Net Profit (adjusted)||1,225||[43.1]|
The Q4FY17 results registered a beat on street estimates. NII came in 3.4% higher the estimated figure of Rs. 4575 crores. Also, net profit was significantly high 40.5% than the streets estimate of Rs. 872 crores.
Axis Banks’ Q4FY17 standalone NII for the period came in at Rs. 4728 crores showing a 3.9% yoy increase. NIM for the quarter stood at 3.8%.
Gross NPA’s for the period recorded a 250% yoy jump to Rs. 21280.4 crores leading to a 337 bps worsening of asset quality. Thereby, Gross NPA as a percentage of Gross Advances stood at 5.04%. Net slippages for the quarter stood at Rs.2008 crore vs Rs.4210 crore in Q3FY17.
Provisions for bad loans increased 120% yoy to Rs. 2581 crore in Q4FY17.
The higher provisioning resulted in a large reduction in net profit. Net profit for the quarter dropped 43.1% yoy to Rs.1225 crores.
Bank’s capital adequacy ratio worsened to 14.95% in Q4FY17 vs 15.29% in Q4FY16.
Deposits for the bank increased by 15% to Rs.414378 crore and net advances grew 10% yoy in Q4FY17, led by Retail, which grew 19% yoy.
Axis Bank Ltd ended at Rs. 517.3, up by 2.15 points or 0.42% from its previous closing of Rs. 515.15 on the BSE.
The scrip opened at Rs. 520 and touched a high and low of Rs. 524.4 and Rs. 508.65 respectively. A total of 12354411(NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.
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