New Delhi, Jan 27 (PTI) Shares of Axis Bank on Tuesday ended nearly 5 per cent higher after the firm reported a 4 per cent growth in its December quarter profit.
The stock ended at Rs 1,314.45, up 4.31
per cent on the BSE. During the day, it surged 5.82 per cent to Rs 1,333.50.
At the NSE, it climbed 4.59 per cent to end at Rs 1,315.80.
The company's market valuation went up Rs 16,913.75 crore to Rs 4,08,185.06 crore.
In the equity market, the 30-share BSE Sensex climbed 319.78 points, or 0.39 per cent, to settle at 81,857.48. The 50-share NSE Nifty surged 126.75 points, or 0.51 per cent, to end at 25,175.40.
Axis Bank on Monday reported a 4 per cent growth in December quarter net profit to Rs 7,010.65 crore against Rs 6,742.99 crore in the year-ago period.
On a standalone basis, the third-largest private sector lender's profit for the October-December period increased to Rs 6,489.57 crore from Rs 6,303.77 crore a year ago.
The bank's core net interest income grew 5 per cent to Rs 14,287 crore, helped by a 14 per cent loan growth but restricted by a 0.29 per cent compression in the net interest margin at 3.64 per cent.
Its Chief Executive and Managing Director Amitabh Chaudhry said Axis Bank's ambition remains unchanged, and the lender wishes to outpace the system growth in a sustainable manner.
The gross non-performing assets ratio improved to 1.40 per cent from 1.46 per cent in the quarter-ago period, while the overall provisions increased to Rs 2,245.92 crore from Rs 2,155.63 crore in the year-ago period. PTI SUM TRB
