Axis Bank Q4 Results highlights: Axis Bank reports net profit of ₹7,129 crore, declares dividend of ₹1 per share

Axis Bank Q4 Results Live Update at 6:05pm: Bank's capital adequacy declined by nearly 100 bps as the Capital adequacy ratio of the bank stood at 16.6% for Q4FY24 vs 17.6% in Q4FY23.

Axis Bank Q4 Results Live Update at 6:00pm: Axis Bank net profit increased marginally by 0.85% QoQ, while for the FY24 the net profit stood at ₹24,681 crore .

Axis Bank Q4 Results Live Update at 4:54 pm: Advances and Deposits grow in double digits

• Advances for the bank stood at ₹9.6 lakh crore as on FY24, a 14% YoY jump

• Deposits for the bank stood at ₹10.6 lakh for FY24 crore a 12.8% increase over previous year

Axis Bank Q4 Results Live Update at 4:51 pm: Axis Bank results highlights

• Net interest income grew 11% YOY and 4% QOQ to ₹13,089 crores

• Net interest margin (NIM) for Q4FY24 stood at 4.06% and grew 5 bps QOQ

• Gross NPA at 1.43% declined by 59 bps YoY and 15 bps QoQ, Net NPA at 0.31% declined by 8 bps YoY and 5 bps QoQ

Axis Bank Q4 Results Live Update at 4:50 pm: The board of Axis Bank also approved fund raising plans via debt issuances upto ₹55,000 crore for the coming financial year FY25

Axis Bank Q4 Results Live Update at 4:45 pm: The asset quality of the bank improved substantially as gross non performing assets (GNPA) for the quarter came in at 1.43% for Q4FY24 vs 2.02% in the previous year same quarter. Similarly, the NNPA for the quarter stood at 0.31% vs 0.39% in Q4FY23.

Axis Bank Q4 Results Live Update at 4:40 pm: The net interest income for the bank increased by 11% YoY at ₹13,089 crore for Q4FY24 vs ₹11,742 crore in previous year same quarter. The rise in the net interest income was largely aided by 22% rise in total interest income for the bank at ₹29224 crore

Axis Bank Q4 Results Live Update at 4:35 pm: Axis Bank Q4FY24 posts net profit of ₹7,129 crore vs net loss of ₹5,728 crore which includes onetime exceptional expenses related to CITI bank.

Axis Bank Q4 Results Live Update at 4:05 pm: Axis Bank to announce financial results shortly for Q4 FY24.

Axis Bank Q4 Results Live Update at 3:54 pm: Axis Bank April 24 trading stats

• Close: ₹1,065
• high: ₹1,068.95
• Low: ₹1,056
• Traded volume: 56.41 lakh
• Traded value: ₹600.12 crore
• Total market capitalisation: ₹3,28,754.12 crore

Axis Bank Q4 Results Live Update at 3:35 pm: Shares of Axis Bank on Wednesday closed at ₹1,065, reflecting a gain of 0.88%, on the NSE. Intraday, the stock hit a high of ₹1,068.95.

Axis Bank Q4 Results Live Update at 3:12 pm: Senior management

• Amitabh Chaudhry- Managing Director & Chief Executive Officer
• Rajiv Anand- Deputy Managing Director
• Subrat Mohanty- Executive Director
• Ganesh Sankaran- Group Executive- Wholesale Banking Coverage Group
• Neeraj Gambhir- Group Executive- Treasury, Markets and Wholesale Banking Products
• Puneet Sharma- Chief Financial Officer
• Sumit Bal- Group Executive and Head- Retail Lending
• Munish Sharda- Executive Director
• Prashant Joshi- Group Executive and Chief Credit Officer

Axis Bank Q4 Results Live Update at 2:35 pm: Shares of Axis Bank were trading at ₹1,064, reflecting a gain of 0.85%, on the NSE. Intraday, the stock hit a high of ₹1,068.

Axis Bank Q4 Results Live Update at 2:10 pm: Business segments

Retail banking

• Deposits
• Loans
• Investments
• Payment solutions
• Digital banking

Corporate credit

• Working capital
• Term loan
• Project finance

Treasury

• Asset liability management
• Correspondent banking activity
• Foreign exchange and derivative trading
• Bullion business
• Investments in SLR and Non-SLR securities
• Arranger ship business

Transaction banking

• Current accounts
• Collection & payment solutions
• Forex
• Trade services
• Capital market solutions

SME business

• Working capital
• Term loan
• Trade finance
• Project finance

Axis Bank Q4 Results Live Update at 1:41 pm: According to a poll by CNBC-TV18, Axis Bank is expected to report a Profit After Tax (PAT) of about ₹6,207.4 crore, a turnaround from the Q3 Fy24's loss of ₹5,728.4 crore.

Axis Bank Q4 Results Live Update at 1:11 pm: Axis Bank profile, vision and values

"Axis Bank is the third largest private sector bank in India offering an entire comprehensive spectrum of financial services to customer segments covering large and mid-corporates, micro, small and medium enterprises (MSME), agriculture and retail businesses," the lender said in its website.

Vision

"To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and the smart use of technology," the bank said.

Axis Bank Q4 Results Live Update at 12:35 pm: Shares of the private lender rose by 0.68% to trade at 1,062.90 on the NSE. On the BSE, the stock was trading at ₹1062.85, up 0.61%.

Axis Bank Q4 Results Live Update at 12:09 pm: How Axis Bank fared in previous quarters

Axis Bank reported a net profit of ₹6,071.10 crore in Q3 FY24 against ₹5,853.07 crore a year ago, and ₹5.863.56 crore in the September quarter. The bank reported a net profit of ₹5.797.1 crore in June quarter. Read more.

Axis Bank Q4 Results Live Update at 11:45 am: What are services of Axis Bank?

Axis Bank is the third largest private sector bank in India. It provides a wide range of financial products and services to individuals, businesses, and corporates such as:

• Retail Banking
• Corporate Banking
• Wealth Management
• NRI Banking
• Digital Banking
• International Banking

Axis Bank Q4 Results Live Update at 11:14 am: Board of Directors

• Nurani Subramanian Vishwanathan- Independent Director and Non-Executive (Part-time) Chairman
• Amitabh Chaudhry- Managing Director and Chief Executive Officer
• Girish Paranjpe- Independence Director
• Meena Ganesh- Independent Director
• S Mahendra Dev- Independent Director
• PN Prasad- Independent Director
• Mini Ipe- Non-Executive (Nominee) Director

Axis Bank Q4 Results Live Update at 10:45 am: Shares of the private lender rose by 0.56% to trade at 1,061 on the NSE. On the BSE, the stock was trading at ₹1063, up 0.65%.

Axis Bank Q4 Results Live Update at 10:21 am: What we know about Axis Bank financial results

In an exchange filing on April 19, the private lender had said the Board of Directors of the bank will meet on April 24 "to consider and approve the audited standalone and consolidated financial results of the bank for the quarter and year ended March 31, 2024".

The bank will host an earnings call with analysts and investors at 6:15 am on Wednesday, wherein the senior management of the bank will discuss the financial results with the participants.

Axis Bank Q4 Results Live Update at 10:02 am: The private lender will declare its financial results for Q4 FY24 on Wednesday post market closing.

Axis Bank Q4 Results Live Update at 9:30 am: Shares of Axis Bank were trading at ₹1,062, up 0.65%, on the National Stock Exchange (NSE) ahead of quarterly results.

Axis Bank Q4 results today: The Q4 FY24 earning season is underway, and listed companies are releasing quarterly earnings. Private lender Axis Bank will also declare its results for the fourth quarter of financial year 2023-24 on Wednesday, April 24.

Investors are keenly waiting for the bank's profit figures for the January-March quarter as the company had reported a net loss reported in the last quarter of FY 2022-23 due to the merger with Citi. The focus will also be on the bank's net interest income margins and non-performing assets (NPAs) as a percentage of advances.

Axis Bank had posted a 25% jump in consolidated total to ₹35,136.83 crore in Q3 FY24 against ₹27,990.34 crore in the year-ago period. The lender had reported a 6% growth in total income to ₹33,122.23 crore in the September quarter. In the July quarter, the total income stood at ₹30.644.04 crore.

The net profit also surged to ₹6,071.10 crore in Q3 FY24 compared to ₹5,853.07 crore a year ago. The bank had reported a net profit of ₹5.863.56 crore in the September quarter.

Last week, HDFC Bank had reported its Q4 results. The private lender had posted a net profit of ₹16,511.85 crore in the quarter ending March 31, 2024, as against ₹16,372.54 crore in Q3 FY24.

Other companies that will release their Q4 results today include Hindustan Unilever Ltd, 5paisa Capital, Macrotech Developers, Oracle Financial Services Software Ltd, Nippon Life India Asset Management, DCB Bank, LTIMindtree Ltd, Dalmia Bharat, The Indian Hotels Co, AU Small Finance Bank, Maharashtra Scooters, Equitas Small Finance Bank, Agro Tech Foods, Chennai Petroleum Corporation, Anant Raj, Dhampur Bio Organics, Harshdeep Hortico Ltd, PNGS Gargi Fashion Jewellery Ltd, Supreme Petrochem, MAS Financial Services Ltd, Syngene International Ltd, and Nitin Fire Protection Industries Ltd.