InvestorQ : What is your quick take on the quarterly results of Axis Bank for the Mar-21 quarter?
Sam Eswaran made post

What is your quick take on the quarterly results of Axis Bank for the Mar-21 quarter?

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Moii Chavate answered.
1 week ago
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For Axis Bank it was a literal turnaround in the Mar-21 quarter after a disappointing loss in the Mar-20 quarter. For the Mar-21 quarter, Axis Bank reported net profit of Rs.2,677 crore in the Mar-21 quarter mainly due to a sharp fall in provisions made for loan losses. In contrast, Axis Bank had reported a net loss of Rs.1,388 crore in the Mar-20 quarter.

There was growth on all parameters. Net interest income or NII went up 11% to Rs.7,555 crore while net interest margins or NIMs marginally expanded by 2 bps to 3.53%, still lower than peer group. Gross slippages in the Mar-21 quarter increased to Rs.5,285 crore against Rs.3,920 crore in Mar-20 quarter. GNPAs fell sharply to 3.70% from 4.86% in Mar-20 Q4.

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