Shares in Axis Bank rose 2% in early trade, a day after the company announced its December quarter earnings.
The bank reported a 224% year-on-year rise in its net profit to Rs 3,614 crore.
The private sector lender also reported a 17% rise in net interest income to Rs 8,653 crore.
The bank performed strongly in terms of asset quality, with the total non-performing asset ratio falling by 36 basis points sequentially to 3.17%. Net NPA ratio fell 17 basis points sequentially to 0.91%.
Axis Bank said its net loan slippage fell 38 basis points month-on-month to 0.06%. Specific loan loss provisions fell to Rs 7.9 crore from Rs 9.27 crore in the previous quarter.
Fee income rose 15% year-on-year to Rs 3,344 crore, while trading profit and miscellaneous income were Rs 3,670 crore and Rs 1.3 crore, respectively.
Total deposits rose 20% year-on-year to Rs 770,000, with current account savings account deposits up 22%. The CASA ratio improved 189 basis points year over year to 44%.
The overall capital adequacy ratio (CAR), including profit for the first nine months of the fiscal year, was 18.72%, and the Common Equity Tier 1 ratio was 15.33%.
Complete News Source : Money Control
