Axis Bank - Q3FY13 Result First Cut - Microsec

Axis Bank Ltd has announced its Q3FY13 result on 15th January 2013.

The bank's total income increased by 4.85% QoQ and 15.13% YoY to INR4110.18 crores, driven by 16.56% and 12.98% YoY growth in its Net Interest Income (NII) and Other Income respectively. Whereas, Profit After Tax (PAT) increased by 19.91% QoQ and 22.22% YoY to INR1347.22 crores. Bank has reduced its provision by 24.06% QoQ and 8.41% YoY to INR386.83 crores, which has boosted bank's bottom line.

During the quarter,. Bank's loans book and total deposits expanded by 20.68% and 17.16% YoY to INR179504.19 and INR244501.41 crores respectively. On the assets quality front, the bank has maintained its assets quality despite challenging environment. Bank's GNPA and NNPA remained flat to 1.10% and 0.33% respectively. Moreover, bank is well capitalized to support its growth trajectory, Capital Adequacy Ratio (CAR) improved by 74bps QoQ and 195bps YoY to 13.73%. On the margin front, Net Interest Margin (NIM) improved by 11bps QoQ and decreased by 18bps YoY to 3.57%. Moreover, bank is in well position to tame may time liabilities with 81% of its Provision Coverage Ratio (PCR). CASA ratio stood at 40%.

Source : Equity Bulls

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