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Axis Bank drops post Q4FY16 results

Discussion in 'Stock Market News & Analysis' started by capitalstars05, Apr 27, 2016.

  1. capitalstars05

    capitalstars05 New Member

    Sep 26, 2014
    Likes Received:
    Shares of Axis Bank dropped 3.4% to Rs464 on NSE post Q4FY16 result update where business growth remained healthy; Asset quality stable; PT revised to Rs590
    NII up 19.8%; Margins expand: Axis bank reported a strong 19.8% growth in Net interest for Q4FY16 owing to 20.5% jump in the advances and expansion in Net Interest Margins (up 16 BPS Yo and 18 BPS QoQ). Non-interest income growth was flat as treasury profit declined by 65.4% YoY, however retail fee income showed a growth of 15.1% YoY. Provisions for Q4FY16 surged by 64.6% YoY owing to Rs300 crore contingent provisions made during the quarter.

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