Axis Bank back in the black, posts net profit of Rs 2,677 crore in Q4

Net interest income rises 11% to Rs 7,555 cr; lender's Board didn't propose any dividend for year ended March 31, 2021

Axis Bank on Tuesday reported a return to profit at Rs 2,677 crore in the quarter ended March 2021 due to a sharp fall in provisions. 

The lender had reported standalone net loss of Rs 1,388 crore in the year-ago period. 

Net interest income rose 11% to Rs 7,555 crore as against Rs 6,808 crore a year ago. The provisions and contingencies during the quarter fell 58% to Rs Rs 3,295 crore as against Rs 7,730 crore in year-ago period.

The lender said its loan book grew 12% on an annual basis and 8% on sequential basis.

Amitabh Chaudhry,