Axis Bank Q3 net profit grows 5% YoY to Rs 1,757 crore, misses estimates

Non-interest income (comprising of fee, trading profit and miscellaneous income) for Q3 stood at Rs 3,787 crore. Fee income for Q3 grew 6 percent YoY to Rs 2,775 crore.

The total deposits on a quarterly average basis grew by 21 percent. CASA and Retail Term Deposits on a QAB basis put together recorded a growth of 21 percent YOY. On a period-end basis, the total deposits grew 15 percent YOY. The share of CASA and Retail Term Deposits in the total deposits stood at 82 percent as on December 31, 2019.

Under Basel III, the Capital Adequacy Ratio (CAR) and Tier I CAR (including net profit for 9MFY20) as on December 31, 2019, were 18.72 percent and 15.54 percent respectively.

The bank has recognised slippages of Rs 6,214 crore during Q3, compared to Rs 4,983 crores in Q2 and Rs 3,746 crore in Q3FY19. Slippages from the loan book stood at Rs 5,124 crore and that from investment exposures stood at Rs 1,090 crore. Corporate slippages stood at Rs 3,891 crore.

As on December 31, 2019, the bank’s Gross NPA and Net NPA levels were 5.00 percent and 2.09 percent respectively, as against 5.03 percent and 1.99 percent respectively as on September 30, 2019.

As on December 31, 2019, the bank had a network of 4,415 domestic branches and extension counters situated in 2,521 centres compared to 3,964 domestic branches and extension counters situated in 2,321 centres last year. As on December 31, 2019, the bank had 12,173 ATMs and 5,254 cash recyclers spread across the country.

Shares of Axis Bank ended at Rs 711.00, down Rs 7.75, or 1.08 percent on the BSE.