Axis Bank shares jump over 6% after lender reports over two-fold jump in Q3 net profit

Axis Bank Tuesday reported over two-fold jump in net profit to Rs 1,680.85 crore for the third quarter ended 31 December

Press Trust of India January 30, 2019 14:49:25 IST
Axis Bank shares jump over 6% after lender reports over two-fold jump in Q3 net profit
  • The bank had posted a net profit of Rs 726.44 crore in the corresponding period of the previous fiscal

  • The shares of the bank rose by 6.38 percent to Rs 703 -- its 52-week high -- on BSE

  • Similarly, at NSE, its shares jumped 6.44 percent to its 52-week high of Rs 703.35

New Delhi: Shares of Axis Bank Wednesday jumped over 6 percent to its 52-week high level after the company reported over two-fold jump in its third-quarter net profit.

The shares of the bank rose by 6.38 percent to Rs 703 -- its 52-week high -- on BSE.

Similarly, at NSE, its shares jumped 6.44 percent to its 52-week high of Rs 703.35.

Axis Bank shares jump over 6 after lender reports over twofold jump in Q3 net profit

Representational image. Reuters

Axis Bank Tuesday reported over two-fold jump in net profit to Rs 1,680.85 crore for the third quarter ended 31 December. The bank had posted a net profit of Rs 726.44 crore in the corresponding period of the previous fiscal.

The net interest income grew 18 percent to Rs 5,604 crore in the third quarter this fiscal.

Total income during the quarter under review rose to Rs 18,130.42 crore as against Rs 14,314.63 crore in the year-ago period, Axis Bank said in a regulatory filing.

Net non-performing assets (NPAs) stood at 2.36 percent of the net advances as on 31 December, 2018, down from 2.56 percent by the end of December 2017.

 

 

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