This Article is From Apr 28, 2020

Axis Bank Jumps Nearly 7% Ahead of March Quarterly Earnings

Axis Bank Share Price: The shares of Axis Bank ended the day at Rs 455, higher by Rs 28or 6.6per cent, on the BSE.

Axis Bank Jumps Nearly 7% Ahead of March Quarterly Earnings

Axis Bank had reported a net profit of Rs 1,757 crore for third quarter ended December 2019.

Axis Bank stock jumped nearly 7 per cent to Rs 448 on the BSE ahead of its Q4 numbers to be announced later in the day. The shares of Axis Bank ended the day at Rs 455, higher by Rs 28 or 6.6 per cent, on the BSE. The shares had opened the day at Rs 439 and touched an intra-day high of Rs 458 and a low of Rs 435.

The country's third largest lender had reported a net profit of Rs 1,757 crore for the third quarter ended December 2019. This was 4.53 per cent higher compared with the corresponding period a year ago, boosted primarily by lower provisioning for non-performing assets (NPAs) or bad loans.

Axis Bank's net interest income - or the difference between interest earned and interest expended - had risen 15.16 per cent to Rs 6,453 crore in the October-December period.

The Sensex ended the session with gains of 371 points and the Nifty added 99 points.