Axis Bank shares jump over 6 per cent after Q3 resultshttps://indianexpress.com/article/business/axis-bank-shares-jump-over-6-per-cent-after-q3-results-5560956/

Axis Bank shares jump over 6 per cent after Q3 results

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

Axis Bank shares jump over 6 per cent after Q3 results
The net interest income grew 18 per cent to Rs 5,604 crore in the third quarter this fiscal. (Representational/Express photo: Gajendra Yadav)

Shares of Axis Bank Wednesday jumped over 6 per cent 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 per cent to Rs 703 — its 52-week high — on BSE.

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

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

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The net interest income grew 18 per cent 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 per cent of the net advances as on December 31, 2018, down from 2.56 per cent by the end of December 2017.