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Axis Bank reports 95% YoY rise in PAT at Rs 1,370 cr; provisions rise QoQ

The Bank's provisions increased to Rs 3,814.58 crore up from Rs 3,337.7 crore in the year ago period and Rs 2,711.43 crore in Q4FY19.

Representative image

Representative image

SI Reporter New Delhi
Axis Bank on Tuesday, reported a net profit of Rs 1,370 crore, up 95.4 per cent YoY, from a PAT of Rs 701.1 crore in the same quarter last year. The numbers were still below most analysts' expectations.

Analysts at Prabhudas Lilladher, for instance, had pegged the bank’s profit at Rs 1,860.3 crore, up 165 per cent YoY. This would have been a nearly 24 per cent rise from the sequential profit of Rs 1,505.1 crore reported in the March quarter of previous fiscal (Q4FY19).

The private lender clocked net interest income (NII) of Rs 5,843.65 crore, up

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First Published: Jul 30 2019 | 4:02 PM IST

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