Axis Bank, India’s third biggest private sector lender by assets reported better than expected 18.36% growth in quarterly net profit of Rs 2,180.59 crore for the January-March quarter against Rs 1,842.32 crore in the same quarter of the previous fiscal. The bank’s Net interest income, which is the difference between interest earned and interest expended, grew by 20.01% to Rs 3,799.24 crore for the quarter ended March 2015 compared to Rs 3,165.75 crore in the quarter a period ago.
The bank’s net profit for the year ended March 31, 2015 grew by 18.33% at Rs 7357.82 crore as compared to Rs 6217.67 crore for the previous year ended March 31, 2014. Total Income has increased by 15.24% to Rs 43843.64 crore for the year against from Rs 38046.38 crore for previous year.
On consolidated basis, the bank’s net profit increased by 18.03% at Rs 7447.90 crore for the year ended March 31, 2015 as compared to Rs 6310.12 crore for the year ended March 31, 2014. Total Income has increased by 15.74% to Rs 44565.57 crore for the year under review from Rs 38502.21 crore for the year ended March 31, 2014.
Axis Bank board has recommended a dividend of Rs 4.60 per share.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. The Bank has a large footprint of 2402 domestic branches (including extension counters) and 12,922 ATMs spread across the country as on March 31, 2014.
| Company Name | CMP |
|---|---|
| HDFC Bank | 781.20 |
| ICICI Bank | 1264.80 |
| Axis Bank | 1269.40 |
| Kotak Mahindra Bank | 380.75 |
| Indusind Bank | 949.85 |
| View more.. | |
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