Axis Bank Q4 Results: PAT flat at Rs 7,117.5 crore but beat estimates, NII up 1.5%
Private sector lender Axis Bank
on Thursday reported that its March quarter bet profit remained flat at Rs 7,117.5 crore vs Rs 7,123 crore in the corresponding quarter of the previous year. The bottomline was, however, higher than ET NOW poll estimate of Rs 6,681 crore.
Axis Bank's Q4 net interest income (NII) came in at Rs 13,810.5 crore vs Rs 13,606 crore in Q4 of the previous fiscal year, representing a 1.5% growth.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around
Blinkist: Andrew Ng's Reading List
More to come...
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
29 minutes ago
- Time of India
Market Wrap: D-Street ends higher on US trade talk optimism; Sensex adds 123 pts, Nifty above 25,100
Indian benchmark equity indices Sensex and Nifty ended in the green on Wednesday, lifted by gains in IT and oil & gas stocks, as positive cues from Asian markets and progress in trade talks between the U.S. and key partners like India and China boosted investor sentiment. The BSE Sensex advanced 123.42 points, or 0.15%, to settle at 82,515.14, while the NSE Nifty eked out a gain of 37.15 points, or 0.15% to close at 25,141.40. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Undo
Economic Times
30 minutes ago
- Economic Times
Sebi to launch UPI IDs for Sebi-registered entities that collect funds
Synopsis The new ecosystem will enable a secure and transparent payment system for investors to transact with registered intermediaries. Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
35 minutes ago
- Time of India
US importers turn to brokers to navigate Trump-era tariffs, at a cost
U.S. importers are increasingly relying on customs brokers to keep up with President Donald Trump 's ever-changing trade policies. But booming demand for help in processing foreign goods has made these services more expensive, adding another cost to the tariff burden, industry players told Reuters. Customs brokerages, until recently an anonymous branch of the import ecosystem, handle the paperwork needed to process shipments and calculate tariff bills. Mom-and-pop brokers interviewed by Reuters say they are raising fees, while major logistics firms like Memphis, Tennessee-based FedEx and Germany-based DHL are also adding staff to their customs compliance teams. Market research firms ballpark customs brokering as a roughly $5 billion industry in the United States. Hiring a broker is optional, but the increasing complexities of U.S. tariffs and customs regulations are leading more importers to shell out the cash. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo Independent brokers like Laredo, Texas-based JD Gonzalez are fielding dozens of questions daily from concerned clients struggling to understand what they may owe to U.S. Customs and Border Protection, and whether to go ahead with shipments or hold off. Brokers are also spending more time and labor on customs forms than ever, and have in some cases implemented new IT systems. Live Events "With all the new information we have to process, some of the automation we've used has been thrown out, so there's more work to do," said JD Gonzalez, who is also president of custom brokerage trade group NCBFAA. The trend is part of a broader wave of corporate efforts to bolster trade compliance operations. Major companies, from Nike to Amazon to Lowe's, had published job postings as of Wednesday for trade and customs professionals. Nike was seeking a "lead" for trade and customs, who would "play a pivotal role in shaping the future of our trade compliance framework," according to the post on Nike's careers website. Amazon, meanwhile, had at least 10 U.S. customs brokerage jobs listed on its careers website. Lowe's had three. Nike, Amazon and Lowe's did not respond to requests for comment. HIGHER FEES Independent brokers often base their fees on the number of codes they must enter to classify the contents of a given shipment. Known as harmonized tariff schedule codes, these line items help border officials distinguish car parts from children's toys, and determine proper tariff rates. Prior to Trump's frenetic tariff policies, fees ranged from around $4 to $7 per code. But Gonzalez said the extra costs brokers have incurred as they ramp up systems to handle the tariff changes have led some to increase fees by $1 to $5 per code. Gonzalez said he has raised fees "nominally," while Steve Bozicevic, CEO of A&A Customs Brokers headquartered in Seattle and Vancouver, said his company added $3 per product type being imported into the U.S. because of merchandise facing "tariff stacking," a phrase used when an item faces multiple tariffs. "We raised the rates for the U.S. because of the new and added complexity," Bozicevic said. The company has not raised rates for imports into Canada because there's "no new complexity," he said. United Parcel Service raised brokerage rates in December between $3.75 and $50 per import entry, depending on the country of origin. The move was part of general rate increases and unrelated to changes in tariffs, a UPS spokesperson told Reuters. FedEx's logistics arm increased its base customs brokerage rates by 4% in January, according to a company spokesperson. These bigger logistics companies, which include brokerage services in their broader shipping offerings, are also beefing up staff. DHL has upped headcount on its U.S. customs entry team by 30% since February, according to a spokesperson for the company's DHL Express shipping unit. FedEx had more than 40 open job postings on its customs and trade teams as of Tuesday, mainly based in the U.S., according to its LinkedIn jobs page. UPS had 10 similar U.S. positions open, according to its jobs website. FedEx is "adjusting our network to meet demand" in an evolving tariff landscape, which "includes hiring additional customs brokerage roles," the spokesperson said. UPS declined to comment on the job postings. Historically, tariff changes have been less frequent, say brokers, trade lawyers and other trade professionals, and they have come with weeks of lead time, allowing brokers to prepare for the change and provide logistical feedback to CBP. Compare that to last week's doubling of steel and aluminum tariffs to 50%, which Trump announced abruptly, forcing the U.S. customs department to quickly publish official guidance just hours ahead of a midnight change. "Many brokers clear shipments ahead of time, so then you have to come back and retroactively redo it and fix it," said Miami-based customs broker Ralph De La Rosa, whose company, Imperial Freight Brokers, was founded by his father 54 years ago. Even brokers who have not raised fees said their services have become inherently more expensive as the number of HTS codes has spiked. Importers slowed shipments into the United States after Trump's massive tariff announcement on April 2, after having frontloaded purchases earlier in the year to get ahead of an expected rise in duties. Imports of consumer goods, which include cell phones and other household items, decreased $68.9 billion to $277.9 billion in April from a month before, according to the U.S. Bureau of Economic Analysis. Trump announced additional tariffs on steel and aluminum in June and in May threatened to impose 50% tariffs on the European Union. Adding to the uncertainty, a federal appellate court on Tuesday ruled that sweeping tariffs may remain in effect while appeals proceed, after a trade court ruled that the U.S. president overstepped his executive powers and blocked the duties. The appellate scheduled arguments for July 31.
