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Axis Bank board recommended a final dividend of Re 1 per equity share, subject to approval of the members of the bank at the ensuing 30th Annual General Meeting.
Axis Bank reported a 224 per cent year-on-year (YoY) rise in its net profit for the October-December quarter at Rs 3,614 crore. On a quarter-on-quarter (QoQ) basis, the private sector lender's profit registered a 15 per cent growth.
The gross non-performing assets declined 138 basis points YoY and 36 basis points QoQ to 3.17 per cent, while net NPAs fell 28 basis points YoY and 17 basis points QoQ to 0.91 per cent.
Axis Bank FY21 net profit quadruples to Rs 6,588 crore For January-March quarter, the company reported a net profit of Rs 2,677 crore as against a net loss of 1,388 crore in the year-ago period. BusinessToday.In |April 27, 2021 | Updated 19:30 IST Axis Bank's NII grew 11 per cent YoY to Rs 7,555 crore during the quarter under review. Axis Bank on Tuesday reported a 305 per cent year-on-year (YoY) increase in its consolidated net profit for fiscal year 2020-21 at Rs 6,588 crore. The bank's net interest income (NII) grew 16 per cent to Rs 29,239 crore. Operating profit grew 10 per cent YoY to Rs 25,702 crore in FY21 from Rs 23,438 crore in FY20. Total provisions for FY21 declined 9 per cent to Rs 16,896 crore, while net interest margin (NIM) expanded by 2 basis points to 3.53 per cent.