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Axis Bank has reported a loss of Rs.2,188.74 crore, for the quarter ended March 31. 2018. Last year in the same quarter it had posted a profit of Rs.1,225 crore.
The bank has reported the first ever quarterly loss, since it got listed over two decades ago. Net interest income (NII), the difference between interest earned and expended was flat at Rs.4,730 crore in Q4FY18. In Q4FY17 NII was at Rs.4,728.60 crore.
Furthermore, net NPAs increased 41% QoQ to Rs.16,591.71 crore, at 3.4% of total loans. Provisions were at Rs.7,179. 53 crore, from Rs.2,581.25 crore in March quarter last year.
