Axis Bank Q4 profit up by 18.3%, provisioning sees big jump
Posted on 29th April 2015 |
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| Axis Bank on Wednesday reported an 18.36% growth in net profit for the fourth quarter ended March 31, 2015 on account of higher net interest income (NII). The bank had net profit of Rs 2180.6 crore for Q4 of FY15 compared to Rs 1842.3 crore posted in Q4 FY14. Provisions for the fourth quarter were at Rs 709.8 crore compared to Rs 505.2 crore in same quarter previous fiscal, an increase of 40%. Net interest income in Q4 of FY15 was up by 20% at Rs 3799.2 crore. The gross non performing assets (NPA) stood at 1.34% in Q4 compared to 1.22% in Q4 of previous fiscal. Net NPA rose marginally to 0.44% compared to 0.4% in fourth quarter of previous fiscal. Advances stood at Rs 2,81,083 crore as on March 31, 2015 compared to Rs 2,300,66.7 crore as on March 31, 2014. Deposits were at Rs 3,22,442 crore, seeing a growth of 14.7% compared to FY14. For the full year, Axis Bank posted profits of Rs 7357.8 crore, which was against 18.3% compared to profit of Rs 6217.6 crore in FY14. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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