1. Axis Bank Q1 FY17 net profit at Rs 1556 cr, bad loans rises 59 per cent QoQ

Axis Bank Q1 FY17 net profit at Rs 1556 cr, bad loans rises 59 per cent QoQ

Axis Bank Q1 results: The private lender reported 21 per cent fall in net profit figures at Rs 1555.53 crore for the quarter ended June 30, 2016 against Rs 1978.44 crore in the corresponding quarter a year ago.

By: | Updated: July 22, 2016 5:18 PM
Axis Bank Q1 results Axis Bank Q1 results: The private lender reported 21 per cent fall in net profit figures at Rs 1555.53 crore for the quarter ended June 30, 2016 against Rs 1978.44 crore in the corresponding quarter a year ago. (Photo: Reuters)

Axis Bank reported 21 per cent fall in net profit figures at Rs 1555.53 crore for the quarter ended June 30, 2016 against Rs 1978.44 crore in the corresponding quarter a year ago.

Bad loans, or net non-performing assets (NPA) of the bank ballooned 59 per cent to Rs 4010.23 crore against Rs 2522.14 crore in the sequential quarter ended March 31, 2016. Net NPA figures stood at Rs 1461.29 crore in the corresponding quarter a year ago.

Net interest income of the bank jumped by 11.35 per cent to Rs 4,516.92 crore for the quarter under review against Rs 4,056.23 crore in the corresponding quarter last year.

Operating profit of the bank jumped 9.22 per cent year-on-year to Rs 4,469.37 crore against Rs 4,092.07 crore in the same quarter last year.

During April-June period, Axis Bank added 102 branches to its network across the country. As on June 30, the bank had a network of 3,006 domestic branches and extension counters situated in 1,882 centres compared to 2,904 domestic branches and extension counters situated in 1,855 centres last quarter.

Share price of the private bank closed 0.13 per cent down at Rs 537.55.

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