Axis Bank on Thursday reported a 54 per cent soar in its standalone web revenue to Rs 4,117.77 crore for the quarter ended March 2022.
The nation’s third-largest non-public sector lender had posted a web revenue of Rs 2,677.06 crore within the year-ago interval.
The complete revenue (standalone) rose to Rs 21,999.58 crore within the January-March interval of 2021-22 in opposition to Rs 19,035.12 crore in the identical interval of 2020-21, Axis Bank stated in a regulatory submitting.
For the complete 2021-22, the online revenue practically doubled to Rs 13,025.48 crore from Rs 6,588.50 crore in 2020-21.
Its revenue elevated to Rs 82,597.37 crore from Rs 75,609.83 crore.
The financial institution’s asset high quality confirmed enchancment, as its gross non-performing property (NPAs) fell to 2.82 per cent of the gross advances as of March 31, 2022, from 3.70 per cent on the finish of March 2021.
In worth phrases, the gross NPAs declined to Rs 21,822.32 crore, from Rs 25,314.84 crore.
Net NPAs (dangerous loans) too got here all the way down to 0.73 per cent (Rs 5,512.16 crore) in comparison with Rs 1.05 per cent (Rs 6,993.52 crore).
Thus, the provisions for dangerous loans and contingencies have been trimmed to Rs 987.23 crore for the reported quarter from Rs 2,167.34 crore put apart by the lender within the year-ago interval.
On a consolidated foundation, the online revenue in This fall FY22 grew by 50 per cent to Rs 4,434 crore from Rs 2,960.40 crore a yr in the past. The complete revenue rose to Rs 23,000.69 crore from Rs 19,850.11 crore.
Shares of Axis Bank closed at Rs 779.95 apiece on BSE, up 1.81 per cent from the earlier shut.
Source: www.financialexpress.com”