Axis Bank Net Up 33.5 Pc In Q4, With 140 Pc Dividend

The private banking sector Axis Bank reported 33.5 percent jump in net profit was Rs 1020.11 crore in the fourth quarter ended March 31, 2011.The bank posted a net profit of 764.8 million rupees in the same quarter a year ago The bank said the report..

the bank's total income grew by 48.3 per cent of R 5817 crore in January-March quarter compared to the R 3922 crore during the same period last year. Interest increased by R 4,366.6 crore against Rs 2,988.4 crore in the same quarter a year ago, reports PTI. The bank proposed a dividend of 140 per cent, or R 14, per share for 2010-2011.

Throughout the fiscal year ended March 2011, the bank's net profit grew by 34.7 per cent of the Rs 3,388.4 crore compared to income of R 2,514.5 crore the previous year year.Total R 19,786.9 crore during the year, R 15,583.8 crore compared to the previous budget.

Group net income rose to R 3,339.9 crore in 2010-2011 compared to Rs 2,478.14 crore the previous fiscal.Net interest margin (NIM) was 3.65 percent at the end of March 2011. Meanwhile, the bank's capital adequacy ratio of 12.65 percent.