Private sector lender Axis Bank on Thursday reported a marginal decline in net profit to Rs 7,117.5 crore in the March quarter.
The bank had reported a net profit of Rs 7,129.67 crore in the March quarter of the preceding fiscal year.
Total income rose to Rs 38,022 crore in the March quarter of the 2024-25 fiscal year, from Rs 35,990 crore in the year-ago period, Axis Bank said in a regulatory filing.
The bank’s gross non-performing asset (NPA) improved to 1.28 per cent in the quarter under review from to 1.43 per cent in the year-ago period. However, net NPA was at 0.33 per cent in Q4 FY25 from 0.31 per cent in the year-ago period.
For the 2024-25 fiscal year, the bank’s net profit rose to Rs 26,373 crore from Rs 24,861 crore in the preceding fiscal year. Besides, the total income grew to Rs 1,47,934 crore in FY25 from Rs 1,31,810 crore in FY24.
“The bank prioritised profitability over growth, considering the uncertain macros and tight liquidity environment dominating most of FY25, while continuing to meaningfully invest in making the franchise more sustainable. As we enter FY26, we believe the operating environment is improving, which should help us drive both growth and profitability,” Axis Bank MD and CEO Amitabh Chaudhry said.
The bank’s net interest income (NII) grew 6 per cent year-on-year to Rs 13,811 crores. Net interest margin (NIM) for Q4FY25 stood at 3.97 per cent.
Axis Bank said its balance sheet grew 9 per cent year-on-year and stood at Rs 16,09,930 crore as on March 31, 2025.
The board of directors has recommended a dividend of Re 1 per equity share for the year ended March 31, 2025. This would be subject to approval by the shareholders at the next annual general meeting.