The Gross NPA ratio for the April-June quarter was 2.76 percent, down from 2.82 percent in the March quarter, according to Axis Bank's first-quarter report.
One of the biggest lenders in the private sector in the nation, Axis Bank, recorded a 91 percent increase in standalone profit from the same period last year to Rs. 4,125 crore on Monday, up from Rs. 2,160 crore.
Net Interest Income (NII) for the quarter ended June 30 at Axis Bank increased by both YOY and QOQ rates of 21% and 6%, respectively.
Axis Bank's net profits showed a steady rise throughout the year. In Q1FY22, profits after tax (PAT)/ net profit were Rs 2,160 crore.
The net profits of Axis Bank increased steadily during the course of the year. The net profit and profits after tax (PAT) for Q1FY22 were both Rs 2,160 crore.
The bank quadrupled its net profit in FY22, increasing it from FY21 by 98% to Rs 13,025 crore. Furthermore, Q4FY22's net profit was Rs 4,118 crore.
The net interest margin, or NIM, was 3.60 percent, up 14 basis points from the same quarter last year and 11 basis points from Q4 FY22.
Net non-performing assets (NPAs) of the bank decreased from 1.05 percent in FY21 to 0.73 percent in FY22.
Axis Bank's fee income increased by 34% year over year to Rs 3,575 crore for the April to June fiscal quarter. Comparing the current quarter to the same period previous fiscal year, retail fees increased by 43%.
Best 5 EV Stocks in India?
India’s Electric Vehicle Manufacturers: When it comes to transportation, new technologies are constantly emerging all around the world.