Private lender Axis Bank will on Monday announce its financial results for the first quarter of the financial year 2022-33 (Q1FY23). The bank, in the last quarter Q4FY22, recorded a 54 per cent growth year-on-year (Y-o-Y) in the net profit to Rs 4,118 crore.
In FY22, the bank doubled its net profit to Rs 13,025 crore, 98 per cent higher than the FY21. Also, the net profit in Q4FY22 was Rs 4,118 crore. The operating profit of the bank grew by 13 per cent YOY & 5 per cent QOQ.
Axis Bank's net profits showed a steady rise throughout the year. In Q1FY22, profits after tax (PAT)/ net profit were Rs 2,160 crore. In the next quarter, PAT rose to