Private sector lender Axis Bank beat street expectations with the fourth quarter (January-March) net profit rising 18.5 percent year-on-year to Rs 1,842 crore on higher other income and net interest income.
According to CNBC-TV18 poll estimates, analysts had estimated net profit of Rs 1,676 crore and net interest income of Rs 3,096 crore for the quarter.
Net interest income during the quarter jumped 18.8 percent to Rs 3,165 crore while non-interest income (Other income includes fee income, commission, gains from securities' transactions etc) climbed 10.3 percent to Rs 2,213 crore year-on-year.
Net interest margin of the bank expanded sequentially to 3.89 percent from 3.71 percent during January-March quarter.
Asset quality improved sequentially. Gross non-performing assets (NPA) declined marginally (up 16 basis points year-on-year) to 1.22 percent while net NPA stood at 0.40 percent as against 0.42 percent quarter-on-quarter and 0.32 percent year-on-year.
In absolute term, gross NPA stood at Rs 3,146.4 crore in March quarter, up 4.6 percent compared to previous quarter and 31.5 percent compared to same quarter last year. Net NPA rose 2 percent Q-o-Q (45.5 percent on yearly basis) to Rs 1,024.6 crore in the quarter gone by.
Provisions and contingencies were Rs 505.2 crore in the quarter ended March 2014 as against Rs 202.5 crore in previous quarter and Rs 595.4 crore in corresponding quarter of last fiscal.
Capital adequacy ratio (as per Basel-III norms) improved to 16.07 percent in fourth quarter from 15.50 percent in third quarter FY14.
The board of directors has declared a dividend of Rs 20 per share and also approved the sub-division of one equity share of the bank having a face value of Rs 10 each into five equity shares of face value Rs 2 each.
Meanwhile, its rival ICICI Bank 's net profit rose 15 percent (missed estimates) to Rs 2,652 crore in the quarter ended March 2014 year-on-year supported by non-interest income , higher retail advances and operating profit but impacted by higher provisions.
Anda sedang membaca artikel tentang
Axis Bank Q4 net up 19% to Rs 1842 cr, approves stock split
Dengan url
http://untukkesehatanda.blogspot.com/2014/04/axis-bank-q4-net-up-19-to-rs-1842-cr.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Axis Bank Q4 net up 19% to Rs 1842 cr, approves stock split
namun jangan lupa untuk meletakkan link
Axis Bank Q4 net up 19% to Rs 1842 cr, approves stock split
sebagai sumbernya
0 komentar:
Posting Komentar