Axis Bank posts net loss for Q4FY18

Axis Bank posted subdued results for the quarter. Further, the bank's asset quality also deteriorated and the bank posted net loss for the quarter.

The net interest income for the quarter remained unchanged for the quarter at Rs. 4,731 crore in Q4FY17 vs Rs. 4,731 crore in Q3FY18 and Rs. 4,729 crore in Q4FY17. This was largely due to muted interest income in Q4FY18 at Rs. 11,771 crore and Rs. 11,168 crore in Q4FY17.

The asset quality deterioration was severe for the quarter as GNPAs as percentage to advances grew by 179 bps yoy and 149 bps qoq to 6.77 per cent in Q4FY18 vs 5.28 per  cent in Q3FY18 and 5.24 per cent in previous year's same period.The total GNPA for the quarter also rose by 61 per cent yoy and 37 per cent qoq to Rs. 34,248 crore in Q4FY18 vs Rs. 21,280 crore in Q4FY17 and Rs.25,000 crore in Q3FY18.

The provisions for the quarter jumped substantially by 178 per cent yoy and 155 per cent qoq to Rs. 7,179 crore in Q4FY18 vs Rs. 2,581 crore in Q4FY17. The bottom-line reported net loss for the quarter at Rs. 2,188 crore in Q4FY18 vs net profit of Rs. 1,225 crore in Q4FY17 and Rs. 726 crore in Q3FY18.

Further, the capital adequacy also declined and stood at 16.57 per cent vs 17.95 per cent in previous quarter

In the pre-opening session Axis Bank quoated 3.79 per cent down..