Strong Q4 numbers generate interest in Axis Bank

Axis Bank rose 1.6% to Rs 1542 at 15:26 IST on BSE after net profit rose 18.46% to Rs 1842.32 crore on 12.41% growth in total income to Rs 10178.63 crore in Q4 March 2014 over Q4 March 2013.

The Q4 result was announced during trading hours today, 25 April 2014.

Meanwhile, the S&P BSE Sensex was down 214.77 points or 0.94% at 22,661.77.

On BSE, so far 3.28 lakh shares were traded in the counter as against average daily volume of 1.37 lakh shares in the past two weeks.

The stock was volatile. The stock rose as much as 2% at the day's high of Rs 1548 so far during the day. The stock lost as much as 1.03% at the day's low of Rs 1502 so far during the day.

Axis Bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 1.22% as on 31 March 2014 as against 1.25% as on 31 December 2013 and 1.06% as on 31 March 2013. The ratio of net NPAs to net advances stood at 0.4% as on 31 March 2014 as against 0.42% as on 31 December 2013 and 0.32% as on 31 March 2013.

Axis Bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 16.07% as on 31 March 2014 as against 15.5% as on 31 December 2013.

Axis Bank's net profit rose 20.04% to Rs 6217.67 crore on 12.78% growth in total income to Rs 38046.38 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

On consolidated basis, Axis Bank's net profit rose 20.54% to Rs 6310.12 crore on 13.12% growth in total income to Rs 38502.21 crore in FY 2014 over FY 2013.

Axis Bank's board of directors at its meeting held today, 25 April 2014, approved 5-for-1 stock split, subject to approval of the shareholders and any other statutory and regulatory approvals, as applicable. The Board also recommended dividend of Rs 20 per share for FY 2014.

Axis Bank is the third largest private sector bank in India. The bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.

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