January 22, 2018 / 8:48 AM / a month ago

BRIEF-India's Axis Bank Dec Qtr Profit Up 25 Pct

Jan 22 (Reuters) - Axis Bank Ltd:

* DEC QUARTER NET PROFIT 7.26 BILLION RUPEES VERSUS NET PROFIT OF 5.80 BILLION RUPEES LAST YEAR

* CONSENSUS FORECAST FOR DEC QUARTER NET PROFIT WAS 7.98 BILLION RUPEES

* DEC QUARTER INTEREST EARNED 117.22 BILLION RUPEES VERSUS 111.01 BILLION RUPEES LAST YEAR

* DEC QUARTER PROVISIONS 28.11 BILLION RUPEES VERSUS 37.96 BILLION RUPEES LAST YEAR

* DEC QUARTER GROSS NPA 5.28 PERCENT VERSUS 5.90 PERCENT PREVIOUS QUARTER

* DEC QUARTER NET NPA 2.56 PERCENT VERSUS 3.12 PERCENT PREVIOUS QUARTER

* DEC QUARTER NIM 3.38 PERCENT

* SAYS DURING Q3, BANK RECOVERED SUBSTANTIAL AMOUNT IN CASH FROM IT/ITES ACCOUNT AND UPGRADED ONE ACCOUNT IN STEEL SECTOR

* SAYS CONTINUE TO RETAIN CREDIT COST GUIDANCE FOR FISCAL 2018 IN RANGE OF 220-260 BASIS POINTS

* SAYS PCR EXPECTED TO BE MAINTAINED IN 60 PERCENT TO 65 PERCENT RANGE IN FISCAL 2018

* SLIPPAGES HAVE MODERATED FROM THE HIGH LEVELS IN Q2

* SAYS DURING QUARTER, CORPORATE SLIPPAGES STOOD AT 29.80 BILLION RUPEES AND 93 PERCENT OF IT CAME FROM LOW RATED BB & BELOW ACCOUNTS

* AS ON DEC 31, PROVISION COVERAGE RATIO OF INSOLVENCY BANKRUPTCY ACCOUNTS INCREASED TO 68 PERCENT Source text - bit.ly/2F1sjXJ Further company coverage:

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