BREAKING NEWS

BREAKING NEWS ""**Expected DA for Bank Employees from Aug 2024 MINIMUM 7 SLAB AND MAXIMUM 24 SLAB*****I *****

VISITOR FROM WORLD

Free counters!

YOU ARE VISITOR

Blog Archive

LIVE

BREAKING NEWS ""**If we want PSU bank to compete with Pvt bank ---Give them a break Saturday first****Outcome of Today’s meeting with IBA - 31.01.2023*********

Thursday, January 19, 2017

Axis Bank Q3 Net Profit Plunges 73% To Rs 580 Crore

Axis Bank Q3 Net Profit Plunges 73% To Rs 580 Crore
Private lender Axis Bank on Thursday reported a whopping 73 per cent decline in net profit at Rs 580 crore for the October-December quarter on account of rise in bad loans.
Net profit for the same quarter in the last fiscal stood at Rs 2,175 crore.
However, total income of the bank rose to Rs 14,501 crore, from Rs 12,531 crore in the year-ago period.
Other income (comprising fee, trading profit and miscellaneous income) rose to Rs 3,400 crore as against Rs 2,338 crore during the same period last year.
Axis Bank's portfolio quality deteriorated, with gross non-performing assets (NPAs) rising to 5.22 per cent of gross advances as against 1.68 per cent in the same quarter of the previous fiscal.
Its net non-performing assets also jumped to 2.18 per cent, from the earlier 0.75 per cent.
For the first nine months of 2016-17, the bank's net profit also declined by 60 per cent to Rs 2,454 crore as against Rs 6,069 crore a year earlier.

No comments:

33.9 million Jobs: Good News! India plans to add 33.9 million jobs by 2028

33.9 million Jobs : India’s workforce is anticipated to expand from 423.73 million in 2023 to 457.62 million by 2028, adding a net gain of a...

script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js">