Axis Bank’s Q4 Net Profit rises to Rs 1277 crore

Excelsior Correspondent
JAMMU, April 28: Axis Bank today announced its financial results for the fourth Quarter as well as for the Financial Year ended on 31st March, 2012
MD and CEO, Axis Bank, Shikha Sharma informed that the Bank’s net profit during Q4 FY12 rose to Rs 1277 crores from Rs 1020 crores in Q4 FY11, registering a growth of 25% year on year (YOY) while the net profit for FY12 stood at Rs 4242 crore up by 25% from Rs 3388 crore for FY11.
The Operating Revenues for Q4 FY12 stood at Rs 3733.71 crores, up by 18.48% YOY from Rs 3151 crores for Q4FY11 while the Operating Revenues for FY12 stood at Rs 13437.97 crores, up by 20% YOY from Rs 11195.12 crores for FY11.
The deposits of the Bank grew by 18% YOY to Rs 91422 crores for FY12 from Rs 77767 crores during FY11, with Saving Bank deposits growing 8% YOY. The YOY growth in Net Interest Income and Fee Income during FY12 was 22% and 25% respectively. Net Interest Margin during FY12 was 3.59% compared to 3.65% in FY11.
The asset quality was healthy with Net NPAs, as a proportion of net customer assets were 0.25% on March 31,2012 against 0.26% as on March 31,2011.
The bank is well capitalized with a Capital Adequacy Ratio of 13.66% as at the end of FY12 compared to 12.65% as at the end of FY11. Tier-I capital was 9.45 % as at the end of FY12, as against 9.41 % as at end of FY11.
During the Q4 FY12, the Bank added 129 branches and 16000 ATMs.