Axis Bank shares Q4 results, reports net profit of Rs7129 crore

New Delhi: The Bank’s operating profit for the quarter stood at Rs 10,536 crores, growing 15% YOY and 15% QOQ. Core Operating profit for Q4FY24 at Rs 9,515 crores, grew 5% YOY and 8% QOQ. Net profit stood at Rs 7,130 crores in Q4FY24 as compared to a net loss of Rs 5,728 crores in Q4FY23 and grew 17% QOQ.

The Bank’s Net Interest Income (NII) grew 11% YOY and 4% QOQ to Rs 13,089 crores. Net interest margin (NIM) for Q4FY24 stood at 4.06% and grew 5 bps QOQ.

 

 

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The bank’s FY24 PAT stood at Rs 24,861 crores up 160% YOY, NIM at 4.07% up 5 bps YOY, Consolidated ROA at 1.84%, up 99 bps YOY; Consolidated ROE at 19.29% up 1,003 bps YOY; aided by balanced deposit and loan growth of 13% and 14%, respectively.

The banking operating structure owns Q4FY24 Operating revenue up by 20% YOY with 10% quarter-on-quarter. While the Net Interest Income grew 16% YOY in FY24, fee income grew 28% YOY, operating profit grew 16% YOY.

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The Bank’s balance sheet grew 12% YOY and stood at Rs 14,77,209 crores as of 31st March 2024. The total deposits grew by 13% YOY and 6% QOQ on the period-end basis, of which savings account deposits grew 2% YOY and 4% QOQ, current account deposits grew 5% YOY and 18% QOQ; total term deposits grew 22% YOY and 5% QOQ of which retail term deposits grew 17% YOY and 5% QOQ.

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