Axis Bank Q4 net up 25% at Rs 1,277 cr

Axis Bank today reported a 25% jump in its net profit at Rs 1,277.27 crore for the fourth quarter of the 2011-12 fiscal.

It had a profit of Rs 1,020.11 crore in the January-March quarter of 2010-11, Axis Bank said in a statement.

During Q4, total income of the bank increased 31.47% to Rs 7,647.94 crore, from Rs 5,817.06 crore in the same quarter of the previous fiscal, the bank said.

The bank restructured loans worth Rs 588 crore during the quarter under review.

The lender's net interest income up 26.16% at Rs 2,146.09 crore.

The bank recommended a dividend of 160% amounting to Rs 16 per share for the year ended March 31, 2012.

Shares of the banks today settled at Rs 1,103, up 1.57% on the BSE ahead of the earnings announcement.