Axis Bank reports net loss of Rs 1,388 cr in Q4FY20; NII at Rs 6,808 cr

Axis Bank on Tuesday reported a net loss of Rs 1,387.78 crore for the quarter ended March 31, 2020 (Q4FY20). 

The private lender's net interest income (NII) came in at Rs 6,808 crore for the period under review.

Analysts at at Edelweiss Securities were expecting some impact on earnings as Q4FY20 is the strongest quarter. They were also expecting a steady growth in retail deposits and had said that traction in corporate deposits would have to be monitored.

Also Read: Axis Bank to report Q4 earnings today; here's what analysts expect

The brokerage had pegged the bank’s net profit at Rs 1,204.2 crore, a sequential drop of 31 per cent from Rs 1,757 crore logged in the December quarter of FY20. On a year-on-year (YoY) basis, they were expcting a drop of about 20 per cent from Rs 1,505 crore clocked in Q4FY19.