Axis Bank beats Street estimates, posts net profit of Rs 2,677 crore in Q4

Private sector lender Axis Bank has reported a net profit of Rs 2,677 crore in the March quarter of FY21, beating Street estimates, on account of lower provisions and good net interest income (NII).
 
In the same period of last financial year, the bank had reported a net loss of Rs 1,388 crore. Sequentially, the net profit of the lender is up 140 per cent.  Bloombeg analysts polled had pegged the net profit at Rs 1,912 crore.
 
NII of the lender is up 11 per cent to Rs 7,555 crore in Q4 of FY21 while other income increased