Bengaluru: Axis Bank Ltd, India's third biggest private-sector lender, on Tuesday reported a surprise ₹1,388 crore loss for the fourth quarter, as it set aside funds to cover potential loan losses due to the coronavirus-driven downturn.

The Mumbai-based Axis booked provisions of ₹7,730 crore for the quarter, or nearly three times higher than last year, including ₹3,000 crore towards COVID-19, the lender said in a regulatory filing.

Analysts had expected a profit of ₹1,556 crore for the three months to March 31, according to Refinitiv data, compared to a reported profit of ₹1,505 crore a year earlier.

However, gross bad loans as a percentage of total loans, a measure of asset quality, eased to 4.86% at March-end from 5% in the previous

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Covid-19: Big relief for Kerala as 61 recover, active cases drop to 34

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Lockdown 3.0:Prohibitory orders extended in Mumbai till May 17

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India’s budget gap breaches estimate on poor tax collection

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Another 30 people have been discharged from Tameside Hospital after beating coronavirus

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Andrew Cuomo - Bill De-Blasio - Mariah Carey - Bette Midler - Barbra Streisand - Billy Joel - Chris Rock - Christopher Jackson - N.Y.Gov - Barbra Streisand, Billy Joel, Bon Jovi, Mariah Carey & More to Perform on 'Rise Up New York!' Benefit - billboard.com - New York - city New York

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Greater Manchester woman arrested and 11 others fined after police 'attacked while breaking up house party'

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Bikers from Rochdale ride more than 100 miles to Whitby for fish and chips

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Further 26 people discharged from Fairfield after recovering from Covid-19

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

₹1,388-crore loss in Q4 owing to Covid-19 provisions

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