Axis Bank jumps after Q3 results

Axis Bank rose 3.91% to Rs 613.30 at 15:00 IST on BSE after net profit rose 25.34% to Rs 726.44 crore on 1.29% decline in total income to Rs 14314.63 crore in Q3 December 2017 over Q3 December 2016.

The result was announced during trading hours today, 22 January 2018.

Meanwhile, the S&P BSE Sensex was up 248.10 points, or 0.70% to 35,759.68.

On the BSE, 13.22 lakh shares were traded in the counter so far, compared with average daily volumes of 5.13 lakh shares in the past one quarter. The stock had hit a high of Rs 621.35 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 583.15 so far during the day. The stock hit a 52-week low of Rs 441.50 on 23 January 2017.

The stock had outperformed the market over the past 30 days till 19 January 2018, rising 7.44% compared with 5.20% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 28.22% as against Sensex's 9.64% rise. The scrip had underperformed the market in past one year, rising 31.02% as against Sensex's 31.36% rise.

The large-cap company has equity capital of Rs 512.85 crore. Face value per share is Rs 2.

Axis Bank's gross non-performing assets (NPAs) stood at Rs 25000.51 crore as on 31 December 2017 as against Rs 27402.32 crore as on 30 September 2017 and Rs 20466.82 crore as on 31 December 2016.

The ratio of gross NPAs to gross advances stood at 5.28% as on 31 December 2017 as against 5.90% as on 30 September 2017 and 5.22% as on 31 December 2016.

The ratio of net NPAs to net advances stood at 2.56% as on 31 December 2017 as against 3.12% as on 30 September 2017 and 2.18% as on 31 December 2016.

The bank's provisions and contingencies fell 25.94% to Rs 2811.04 crore in Q3 December 2017 over Q3 December 2016.

Provision coverage ratio of the bank was at 66% as on 31 December 2017.

Axis Bank is one of the biggest private sector banks in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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