Axis Bank Rises Over 3% After December Quarter Earnings
Axis Bank shares rose more than 3 per cent on Thursday, a day after the private sector lender reported a net profit of Rs 1,757 crore for the October-December period. Axis Bank's net profit in the third quarter of current financial year was 4.53 per cent higher compared with the corresponding period a year ago, boosted primarily by lower provisioning for non-performing assets (NPAs) or bad loans.
On the BSE, Axis Bank shares climbed up as much as 3.44 per cent to Rs 737.30 apiece on the BSE at the strongest level recorded during the session.
Gross non-performing assets as a percentage of total loans came in at 5.00 per cent in the quarter, as against 5.03 per cent in the previous quarter and 5.75 per cent in the quarter ended December 31, 2018.
At 11:57 am, Axis Bank shares traded 1.40 per cent higher at Rs 722.75 apiece on the BSE, outperforming the benchmark S&P BSE Sensex index which was up 0.23 per cent at 41,209.72.