Axis Bank Q4 net up 33.5%

Private sector lender Axis Bank clocked 33.5% jump in net profit at Rs 1,020.11 crore for the fourth quarter ended March 31, 2011.

The bank had a net profit of Rs 764.8 crore in the same quarter in the previous fiscal, Axis Bank informed the Bombay Stock Exchange.

Total income of the bank rose by 48.3% to Rs 5,817 crore in the January-March quarter compared to Rs 3,922 crore in the same period previous fiscal.

Interest Income improved to Rs 4,366.6 crore against Rs 2,988.4 crore in the same quarter a year ago.

The bank proposed a dividend of 140%, or Rs 14, per share for 2010-2011.

For the entire fiscal ended March, 2011, the bank's net profit grew by 34.7% at Rs 3,388.4 crore, compared to Rs 2,514.5 crore in the previous financial year.

Total income increased to Rs 19,786.9 crore during the year, compared to Rs 15,583.8 crore in the previous fiscal.

Consolidated net profit increased to Rs 3,339.9 crore in 2010-2011 compared to Rs 2,478.14 crore in the previous fiscal.

Net Interest Margin (NIM) was 3.65% at the end of March 2011. At the same time, Capital Adequacy Ratio of the bank stood at 12.65%.

Total advances rose by 36.4% Rs 1,04,341 crore during the year as compared to Rs 1,42,408 crore in the previous fiscal.