Axis bank share price increased by 6% after the company’s net profit for the December quarter jumped three times.
As per reports from NDTV, the stock speeded to 5.77% to hit a day high of ₹ 745 on BSE. As of 11:40 am, the scrip was up 5.33 percent to ₹ 741.90.
About Axis bank share price
Axis Bank’s merged Q3 net profit rose to ₹ 3,973 crore.
Reportedly, on a standalone basis, the lender posted a profit after tax (PAT) of ₹ 3,614.24 crore, as against ₹ 1,116 crore in the year-ago period and ₹ 3,133 crore in the preceding September quarter.
Further, when adjusted for the benefit of a tax refund in the year-ago period a marginal expansion in the net interest margin grew to 3.53 %.
And Axis bank’s core net interest income grew 17 % to ₹ 8,653 crore on the back of a 17 % loan growth.
Also, the bank’s non-interest income grew 15 % to ₹ 3,344 crore, helped by a 16 % growth in the retail fees.
Which has now reportedly constituted 65 % of the income line.
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