Axis Bank beats Q4 estimates, net profit surges 15% to Rs 7,130 crore

Axis Bank Q4 results: Axis Bank surpassed expectations with its fourth-quarter profit, driven by robust loan expansion and increased net interest income.

The private lender recorded a standalone net profit of Rs 7,130 crore for the quarter ending March 31, outperforming analyst forecasts of Rs 5,540 crore according to LSEG data. 

This marks a major turnaround from the Rs 5,728 crore loss reported in the same period last year, attributed in part to a one-time expense related to the $1.41 billion Citi deal.

Net interest income, representing the disparity between interest earned and paid, climbed by 11.5 per cent to Rs 13,089 crore, according to Reuters.

Despite tighter liquidity conditions in the banking sector, Indian banks have maintained their focus on improving deposit growth, even as rising costs persist. This effort, combined with sustained consumer spending, has helped sustain loan growth amid elevated interest rates.

(With Reuters inputs)