Axis Bank Q1 net profit falls 21% to Rs 1,555,53 lakh
Axis Bank on Friday reported over 21% decline in the net profit for the first quarter (Q1) ended on June 30, 2016.
Axis Bank, India's third largest private sector bank, posted 21.38% fall in net profit to Rs 1,555,53 lakh for the April-June quarter of the fiscal year 2016-17 (FY17) as against Rs 1,978,44 lakh in the April-June quarter of the fiscal year 2015-16 (FY16), the bank said in a filing to the Bombay Stock Exchange (BSE).
The bank's total income from operations in Q1 FY17 surged by 13.22% to Rs 13,852,18 lakh as compared to Rs 12,234,41 lakh in Q1 FY16.
Its total operating expenses during the quarter under review rose by 23.13% to Rs 2,785,83 lakh as against Rs 2,262,43 lakh in the corresponding quarter of the previous fiscal.
Axis Bank's gross non-performing assets (GNPAs) ratio during the quarter was up 2.54% as against 1.38% in the same quarter of last fiscal.
The bank's net non-performing assets (NPAs) ratio in Q1 FY17 was up 1.08% as compared to 0.48% in Q1 FY16.
Its total interest earned during the April-June quarter of FY17 increased by 11.85% to Rs 11,113.90 lakh as against Rs 9,936,14 lakh in the April-June quarter of FY16.
The stock of Axis Bank on Friday closed down 0.13% or Rs 0.70 at Rs 537.55 on the BSE.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
06:31 PM IST