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India's Axis Bank Q4 profit falls less than expected
April 26, 2017 / 12:17 PM / 7 months ago

India's Axis Bank Q4 profit falls less than expected

MUMBAI, April 26 (Reuters) - Axis Bank Ltd, India’s third-biggest private sector lender by assets, reported a smaller-than-expected 43 percent fall in fourth-quarter net profit, with its bad-loan ratio narrowing quarter-on-quarter.

The Mumbai-based lender said net profit was 12.25 billion rupees ($191.1 million) for the three months to March 31, compared with 21.54 billion rupees reported a year earlier.

Analysts on average had expected a net profit of 9.51 billion rupees, according to data compiled by Thomson Reuters.

Gross bad loans increased slightly to 212.8 billion rupees as of end-March from December, but as a percentage of total loans were 5.04 percent at end-March, compared with 5.22 percent as of end-December. ($1 = 64.1150 Indian rupees) (Reporting by Devidutta Tripathy; Editing by Randy Fabi)

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