Axis Bank Q4 Results: Strong Performance with ₹7,130 Crore Net Profit

Axis Bank Q4

Axis Bank reported a strong financial performance in Q4 FY24, with a net profit of ₹7,130 crore. This marks a significant improvement compared to the same period last year. Here are five key highlights of Axis Bank’s Q4 results:

Profit Surge:

Axis Bank’s net profit jumped to ₹7,130 crore in Q4 FY24, compared to a net loss of ₹5,728 crore in Q4 FY23. This substantial rise can be partly attributed to the integration of Citi India’s consumer business, which merged with Axis Bank in Q4 FY23 [Business Standard, Axis Bank Q4 results: Reports net profit at Rs 7130 crore, NII rises 11%].

NII Growth:

Net Interest Income (NII), which represents the difference between interest earned on loans and interest paid on deposits, grew by 11.5% year-on-year to ₹13,089 crore. This indicates that Axis Bank is efficiently managing its interest rates and loan portfolio [Upstox, Axis Bank Q4 Results highlights: Axis Bank reports net profit of ₹7,129 crore, declares dividend of ₹1 per share].

Improved Margins:

The bank’s net interest margin (NIM), a measure of profitability on interest-earning assets, also saw a positive uptick. NIM reached 4.06% in Q4 FY24, reflecting a 5 basis point increase quarter-on-quarter [Business Today, Axis Bank Q4 results highlights: Profit at Rs 7,130 cr; dividend, Rs 55,000 cr fundraising announced].

Asset Quality:

Axis Bank’s asset quality has shown improvement, with a decline in gross non-performing assets (NPAs) ratio to 1.43% in Q4 FY24. This indicates a lower proportion of bad loans on the bank’s books [Upstox, Axis Bank Q4 Results highlights: Axis Bank reports net profit of ₹7,129 crore, declares dividend of ₹1 per share].

Dividend Declared:

The bank’s board recommended a final dividend of ₹1 per equity share, subject to shareholder approval. This is a positive sign for investors seeking returns on their investments [Business Today, Axis Bank Q4 results highlights: Profit at Rs 7,130 cr; dividend, Rs 55,000 cr fundraising announced].

Overall, Axis Bank’s Q4 FY24 results paint a positive picture of the bank’s financial health. The strong performance reflects growth in key metrics like net profit, NII, and improved asset quality. The announcement of a dividend is an added bonus for investors.pen_sparktunesharemore_vert

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