Axis Bank posts Q4 net profit of ₹2,677 crore
The Hindu
Lower provisions spur profitability
Axis Bank on Tuesday reported a standalone net profit of ₹2,677 crore for the fourth quarter ended March as provisioning for bad loans eased. The lender had reported a loss of ₹1,387.78 crore a year earlier. Total income during the latest quarter was ₹20,213.46 crore compared with ₹20,219.57 crore in the year-earlier period, Axis Bank said in a regulatory filing. Provisions for bad loans and contingencies declined significantly to ₹3,294,98 crore compared with ₹7,730.02 crore.
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