Axis Bank on April 28 reported a standalone loss of Rs 1,387.78 crore for the fourth quarter of FY20 against a profit of Rs 2,302.99 crore in the same period last year.
The numbers missed Street expectations. Analysts polled by CNBC-TV18 had estimated Rs 1,580.1 crore profit.
“The crisis we are facing as a nation is a long drawn one and it will need courage, grit and a fighting spirit to combat it. We believe in learning from all adversaries. For example, the lock-down has taught us how Work From Home (WFH) can be more productive and convenient. We are now exploring if WFH can become a part of our work culture going ahead,” MD&CEO Amitabh Chaudhry said.
Here are takeaways from Axis Bank's fourth-quarter scorecard: