Axis Bank share price jumps over 4% in trade today on the back of strong Q4 results. Axis Bank posted a net profit of Rs 7,130 crore compared to a loss of Rs 5,762 crore in the same period last year. As of 10:15 AM, Axis Bank share price was at Rs 1,107.75, up 4.2% on the NSE.
The bank’s net interest income (NII) came in at Rs 13,089 crore, marking an 11.47% increase from the previous year’s figure of Rs 11,742 crore.
The gross non-performing asset (NPA) ratio has decreased to 1.43% from 2.02% in the corresponding period, reflecting a healthier loan portfolio. Similarly, the net NPA ratio improved to 0.31% compared to 0.39% previously.
Axis Bank‘s board has approved a substantial fundraise plan. The bank intends to raise Rs 35,000 crore through debt instruments issuance, Additionally, another Rs 20,000 crore will be raised via equity.
