Axis Bank Q4 net up 18.3% at Rs 2,180.5 crore

Axis Bank on Wednesday reported 18.3% jump in net profit at Rs 2,180.59 crore for the fourth quarter ended March 31, 2014-15.

Axis Bank on Wednesday reported 18.3% jump in net profit at Rs 2,180.59 crore for the fourth quarter ended March 31, 2014-15.

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The country's third largest private sector lender had posted a net profit of Rs 1,842 crore during the corresponding quarter of 2013-14 fiscal.

Its total income increased to Rs 12,384.39 crore in the fourth quarter of the current financial year as compared to Rs 10,178.63 crore a year ago.

The board recommended 230% or 4.60 dividend on the face value of Rs 2 each for the financial year 2014-15.

For the entire fiscal ended March, 2015, the bank's net profit grew by 18.3 per cent at Rs 7,357.82 crore, compared to Rs 6,217.67 crore during 2013-14.

Total income increased to Rs 43,843.64 crore during the year, compared to Rs 38,046.38 crore in the earlier fiscal.

Gross non-performing assets (NPAs), as a proportion of advances, rose to 1.34% at the end of March 2015, as against 1.22% in the previous fiscal. Net NPAs also rose to 0.44% during the year from 0.40% at the end of March 2013.