Axis Bank Q4 net up 18.36%

Private lender Axis Bank has reported an 18.36 per cent growth in net profit for the fourth quarter ended March 31, 2015, at Rs 2,180.59 crore, as against Rs 1,842.32 crore in the corresponding period of the previous fiscal.

The bank’s net interest income during the quarter rose 20 per cent to Rs 3,799 crore from Rs 3,166 crore, a year earlier. As on March 31, 2015, the gross non performing assets (NPAs) and net NPAs stood at 1.34 per cent and 0.44 per cent, respectively.

The bank held a provision coverage ratio of 78 per cent as on March 31, 2015, as a proportion of gross NPAs, including prudential write-offs.