Axis Bank posted its quarterly results for Q4 FY22 on April 28, 2022. The company posted an 11.6% quarter on quarter (QoQ) jump in its consolidated PAT which came in at Rs 4,417 crore against Rs 3,956 crore in the previous quarter. On an annual basis, the profit after tax (PAT) was up 50.1% to Rs 4,417 crore from Rs 2,941 crore in the year ago period.
The interest earned by Axis Bank in the March 2022 quarter was up 3.14% QoQ which came in at 18,208 crore in the quarter under review against Rs 17,653 crore in the previous quarter. The company’s operating profit jumped by 3.3% QoQ and 12% year on year (YoY) to Rs 6,886 crore in the quarter under review.
Axis Bank announced a dividend payout of Rs 4 per share. The scrip closed in the green at Rs 779.80 after gaining 1.8% at the end of the intraday trading session on April 28, 2022.
Amitabh Chaudhry, MD & CEO, Axis Bank said, “We have made steady progress across all dimensions of our business. Considerable work has gone into strengthening our core, building granularity while at the same time ensuring that we are well positioned to grow and leverage the opportunities opening up, hopefully with the pandemic behind us. The Citi deal is one of its kind, and should pivot us into a premium franchise in line with our strategic objectives. With smart products, services, partnerships and talent on our side, we look forward to further building on our performance in the new financial year.”
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Research Analyst: Bavadharini KS