Axis Bank net slumps 73% in Q3
- Author: Rita Burton Jan 20, 2017,
Jan 20, 2017, 0:56
The Bank's Net Interest Income (NII) grew by 4% YOY to Rs 4,334 crores during Q3FY17 from Rs 4,162 crores in Q3FY16.
In the October - December quarter, the bank's total income was up at Rs 5,229.96 crore versus Rs 4,122.12 crore in the same quarter past year.
Deposits grew about 16% to Rs 27,750 crore.
Yes Bank reported a net profit of Rs 882.6 crore for the third quarter of FY17, against Rs 675.7 crore in the year-ago period.More news: Madame Toussauds Unveils Donald Trump Wax Figure - With Yak Hair
The company also posted earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter at Rs 226.01 crore as against EBITDA of Rs 234.9 crore QoQ and EBITDA of Rs 174.8 crore YoY.
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. Net NPA ratio increased to 0.29 percent in the quarter, from 0.13 percent a year ago. During the three-month period, loans were at Rs 19,714 crore versus Rs 20,253 crore a quarter earlier.
South-based Lakshmi Vilas Bank (LVB) has reported a 70% rise in its third quarter net profit as its treasury gains spurted aiding the quarterly profits, which were on expected lines. Net interest income (NII) - the difference between what the bank earns on its loans minus what it has to pay out as interest on its deposits - increased 14.1% to Rs 190.62 crore from Rs 167.07 crore a year ago.
After some wild swings post announcement of results, Yes Bank is trading at Rs 1347 now, around its previous closing price.