Axis Bank Q4 net rises 54% at Rs 4,118 cr; net interest income up 17%

Provisioning dropped to Rs 987 cr, down from Rs 2,167 cr during the same period of the previous year

Axis Bank – the third largest private sector lender of the country — reported a 54 per cent on-year growth to Rs 4,118 crore in its net profit for the Jan-March quarter on the back of healthy growth in core income and lower provisions.

Net interest income of the bank grew 17 per cent on year to Rs 8,819 crore, while net interest margin (NIM) for Q4FY22 stood at 3.49 per cent. Fee income for Q4FY22 grew 11 per cent on year to Rs 3,758 crore.

Overall provisioning dropped to Rs 987 crore during the period under review, sharply down from Rs