Axis Bank has witnessed a remarkable financial performance in the fourth quarter and full fiscal year 2023-24. For the quarter ended March 31, 2024, the bank reported a net profit of Rs 7,129.67 crore, a significant improvement from a loss of Rs 5,728.42 crore in the corresponding quarter of the previous year.
Total income also surged to Rs 35,990 crore in the March quarter of 2023-24, compared to Rs 28,758 crore in the same period of 2022-23. The bank’s net interest income (NII) grew by 11% year-on-year (YoY) to Rs 13,089 crore.
For the entire 2023-24 fiscal year, Axis Bank’s net profit jumped by an impressive 160% to Rs 24,861 crore. The bank’s gross non-performing asset (NPA) ratio stood at 1.43% as of Q4 2023-24, reflecting an improvement from 2.02% in Q4 2022-23.
This exceptional financial performance highlights the bank’s resilience and growth momentum. Axis Bank has consistently delivered strong results, demonstrating its commitment to providing high-quality banking services to its customers.
