Axis Bank Q4 FY17 net profit declines 43.1% yoy: Beat estimates

India Infoline Research Team | April 26, 2017 17:42 IST

Axis Banks’ Q4 FY17 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%.

Axis Bank Ltd Q4FY17

Standalone Results Q4FY17: (Rs. in crore)

Q4FY17 YoY (%)
NII 4,728 3.9
NPA (%) 5.04 337
Provisions 2,581.2 120.9
Net Profit (adjusted) 1,225 [43.1]
***NPA change is bps

Axis Bank, India's third largest private sector bank, reported its quarterly result post market hours today.

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.

Technical View:

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.

***Note: This is a NSE Chart

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