trending Market Intelligence /marketintelligence/en/news-insights/trending/3UhDnx9xia8JBPaa_xMlVw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Axis Bank sees 73.36% YOY drop in fiscal Q3'17 profit

Blog

Tech in Banking: An Age of Digital Disruption

Blog

Standar Baru Penilaian Pembiayaan Proyek oleh Bank

Blog

Banking Essentials Newsletter: May Edition

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9


Axis Bank sees 73.36% YOY drop in fiscal Q3'17 profit

India's Axis Bank Ltd. saw a net profit of 5.80 billion Indian rupees for the fiscal third quarter ended Dec. 31, 2016, a 73.36% dip from 21.75 billion rupees for the prior-year period.

EPS for the period came in at 9.58 rupees per share, down from 36.15 rupees per share.

The bank's total income for the quarter stood at 145.01 billion rupees, compared with 125.31 billion rupees for the quarter ended Dec. 31, 2015.

Net interest income was 43.34 billion rupees, up 4.12% year over year from 41.62 billion rupees. Net interest margin for the quarter came in at 3.43%, from 3.79% for the year-ago quarter.

Operating profit amounted to 46.40 billion rupees, up 16.44% year over year from 39.85 billion rupees.

The bank's gross nonperforming assets as of Dec. 31, 2016, stood at 204.67 billion rupees, up from 163.79 billion rupees as of Sept. 30, 2016. The ratio of net NPLs for the quarter stood at 2.18%, compared with 2.02% for the previous quarter. Gross NPA ratio clocked in at 5.22%, compared with 1.68% in the year-ago period.

The bank's total capital adequacy ratio under Basel III was 16.59% as of Dec. 31, 2016.

For the nine months ended Dec. 31, 2016, the company's net profit shrunk 59.56% totaling 24.54 billion rupees, down year over year from 60.69 billion rupees. EPS for the period came in at 13.58 rupees, down from 33.76 rupees per share for the year-ago period.

As of Jan. 19, US$1 was equivalent to 68.11 Indian rupees.