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Axis Bank Ltd. reported it turned a fourth-quarter net profit of ₹7,130 crore after posting a net loss of ₹5,728.4 crore in the year-earlier period.
The bank’s operating profit for the quarter rose 15% YoY to ₹10,536 crore.
NII rises
Net interest income grew 11% YoY to ₹13,089 crore. Net interest margin for Q4 stood at 4.06%. Provision and contingencies for Q4 stood at ₹1,185 crore.
The bank said it had made specific loan loss provisions of ₹832 crore.
So far, the bank holds cumulative provisions (standard and additional other than NPA) of ₹12,134 crore, CEO Amitabh Chaudhry said.
