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Axis Bank Q4 FY22 Results

28 April 2022
3 minutes

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.

Highlights of Axis Q4 Results Fy22

  • PAT up 11.6% QoQ, 50.1% YoY to Rs 4,417 crore for the quarter under review
  • Loans up 15% YoY, 6% QoQ
  • Retail up 21% YoY & 9% QoQ
  • Gross NPA came in at 2.82%, down by 88 base points YoY and 35 base points QoQ
  • Net NPA came in at 0.73%, down by 32 base points YoY and 18 base points QoQ
  • Nearly 1.1 million credit cards issued in Q4 FY22, the highest ever for any quarter taking total card issuances in FY22 to 27 lakh
  • Specific loan loss provisions for Q4 FY22 were Rs 602 crores compared to Rs 790 crores in Q3 FY22

Segment-wise revenue

  • Treasury: Revenue up by 38.4% YoY to Rs 6,068 crore in the quarter under review from Rs 4,382 crore in the year-ago period
  • Corporate/Wholesale Banking: Revenue up by 0.25% YoY to Rs 6,796 crore in the quarter under review from Rs 6,779 crore in the year-ago period
  • Retail Banking: Revenue up by 15.6% YoY to Rs 19,728 crore in the quarter under review from Rs 17,051 crore in the year-ago period
  • Other Banking Business: Revenue up by 52% YoY to Rs 1,095 crore in the quarter under review from Rs 720 crore in the year-ago period

What the Management says

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.”

Other things to know about Axis Bank

  • The company has a P/E ratio of 33.28 against the industry average of 20.60
  • Axis Bank’s P/B ratio is at 2.31 against the industry average of 2.32

To read the RA disclaimer, please click here.
Research Analyst: Bavadharini KS

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