Axis Bank Q4 PAT up 54% YoY

Axis Bank's net profit rose 54% to Rs 4,117.77 crore on 16% increase in total income to Rs 21,999.58 crore in Q4 March 2022 over Q4 March 2021.

Profit before tax in Q4 FY22 stood at Rs 5,478.75 crore, up by 53% from Rs 3,569.67 crore in Q4 FY21.

The bank's provisions and contingencies (excluding tax provisions) declined by 54% YoY to Rs 987.23 crore in Q4 March 2022 over Q4 March 2021.

The bank's gross non-performing assets (NPAs) stood at Rs 21,822.32 crore as on 31 March 2021 as against Rs 23,301.19 crore as on 31 December 2021 and Rs 25,314.84 crore as on 31 March 2020.

The ratio of gross NPAs to gross advances stood at 2.82% as on 31 March 2021 as against 3.17% as on 31 December 2021 and 3.70% as on 31 March 2020.

The ratio of net NPAs to net advances stood at 0.73% as on 31 March 2021 as against 0.91% as on 31 December 2021 and 1.05% as on 31 March 2020.

The bank reported 98% rise in net profit to Rs 13,025.48 crore on a 9% increase in total income to Rs 82,597.37 crore in FY22 over FY21.

Axis Bank is the third-largest private sector bank in India.

The scrip rose 1.81% to end at Rs 779.95 on the BSE today.

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