Axis Bank Ltd Q1FY22 consolidated PAT slips QoQ to Rs. 2356.91 crore

AXIS BANK LTD. has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.20285.41 crores during the period ended June 30, 2021 as compared to Rs.20977.75 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.2356.91 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.2941.41 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.7.67 for the period ended June 30, 2021 as compared to Rs.9.58 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 20285.41 crs	₹ 20977.75 crs	-3.3%
Net Profit	₹ 2356.91 crs	₹ 2941.41 crs	-19.87%
EPS	₹ 7.67	₹ 9.58	-19.94%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.20285.41 crores during the period ended June 30, 2021 as compared to Rs.19368.35 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.2356.91 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.1099.52 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.7.67 for the period ended June 30, 2021 as compared to Rs.3.89 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 20285.41 crs	₹ 19368.35 crs	4.73%
Net Profit	₹ 2356.91 crs	₹ 1099.52 crs	114.36%
EPS	₹ 7.67	₹ 3.89	97.17%

Commenting on developments during the quarter, Amitabh Chaudhry, MD&CEO, Axis Bank said, "Despite Wave 2 headwinds, we made tremendous progress this quarter on our strategy of building a high quality granular franchise, increasing our relevance in the lives of the customers and the communities we serve and building the best digital bank in the country. The journey we started two years back is gathering momentum with a strong balance sheet, conservative provisions and a steady operating performance supporting our aspirations. We continued to differentiate on our pioneering people and diversity initiatives. We have also set a bold mandate for our long-term ESG goals. We continue to monitor the macroeconomic environment closely and we remain confident about our strategy and the road ahead."

Shares of AXIS BANK LTD. was last trading in BSE at Rs. 756.15 as compared to the previous close of Rs. 755.25. The total number of shares traded during the day was 217390 in over 5338 trades.

The stock hit an intraday high of Rs. 760 and intraday low of 745.05. The net turnover during the day was Rs. 163800940.

Source : Equity Bulls

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