RBL Bank standalone net profit rises 36.88% in the March 2018 quarter

YES Bank stock closes 10% higher after Q4 net profit rises 29

"Which is what gets us to the bank's results in this quarter".

Despite the bank reporting net loss for the quarter ended March 2018 and a stressed loan book, shares of Axis Bank are up sharply in positive territory this afternoon.

However, the bank's net interest income (NII) inched-up to Rs 4,730 crore during the quarter from Rs 4,729 crore earned during the corresponding quarter of the previous year. This was largely due to muted interest income in Q4FY18 at Rs. 11,771 crore and Rs. 11,168 crore in Q4FY17.

Private lender Bandhan Bank has reported a 20.3 per cent increase in net profit at Rs 388 crore for the last quarter of 2017-18 fiscal on the back of healthy interest as well as non-interest income. Provisions for bad loans jumped to Rs 7,179.53 crore compared to Rs 2,811 crore in the previous quarter.

SHARES of Axis Bank on Friday rose almost 6 per cent even as the company reported a net loss of Rs 2,188.74 crore for the quarter ended March 31, 2018.

Interest income stood at Rs 3,032 crore for the year, up 26.1 per cent. Non-interest income shot up by 71.8 per cent to Rs 706 crore. Most of the corporate slippages, nearly 90 per cent came from the BB book particularly the power sector The watch list is now closed and in Q4 it is (just) Rs 428 crore...

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The company has posted net profit of Rs.(2188.74) crores for the period ended March 31, 2018 as against Rs.1225.10 crores for the period ended March 31, 2017.

Total assets of the private-sector lender grew by 45.3 per cent to Rs 3.12 lakh crore as of March 31, 2018, while its deposits grew by 40.5 per cent to Rs 2.01 lakh crore. Advances grew 18 per cent to Rs 439,650 crore.

It was successful to increase its provision coverage ratio by 5 percentage points in a single quarter to 58 and exuded confidence of breaching the 60-percent mark in the next six months.

"The year 2017-18 has been a watershed year for the bank".

As per Ghosh, the bank is targeting to "minimise" its bad loans ratio and relying more on tracking the daily on-time repayment rate (OTR) to achieve the goal and deploying more field force. It is also looking for a new chief after Shikha Sharma retires on December 2018 following the Reserve Bank of India's (RBI) instruction asking the bank's Board to cut short her fourth term. The stock was the biggest gainer on both Sensex and Nifty.

Shares of the bank traded 3.86 per cent higher at Rs 513.90 on BSE.

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