Axis Bank Shares Rise Over 3% After Earnings Announcement

Axis Bank on Thursday said its net profit came in at Rs4,677 crore for the year ended March 31,as against Rs. 276 crore in FY18.

Axis Bank Shares Rise Over 3% After Earnings Announcement

At 1:52 pm, Axis Bank shares traded 2.56 per cent higher at Rs 759.90 on the NSE.

Shares of Axis Bank surged as much as 3.2 per cent on Friday, a day after the lender reported a net profit of Rs 1,505.06 crore for the quarter ended March 31. Axis Bank shares opened higher at Rs 762 apiece on the National Stock Exchange (NSE) and rose to an intraday high of Rs 765.15 by afternoon, from their previous close of Rs 740.90. On Bombay Stock Exchange (BSE), Axis Bank shares opened higher at Rs 761.30 apiece and advanced to an intraday high of Rs 765, from their previous close of Rs 740.85. 

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At 1:52 pm, Axis Bank shares traded 2.56 per cent higher at Rs 759.90 on the NSE. On the BSE, the stock traded up 2.44 per cent at Rs 758.95. Axis Bank was among the top four contributors to the gains on both benchmark indexes Sensex and Nifty.

In a regulatory filing post-market hours on Thursday, Axis Bank said its net profit came in at Rs 4,677 crore for the year ended March 31, as against Rs. 276 crore in FY18. 

Its operating profit stood at Rs 5,014 crore in the fourth quarter of financial year 2018-19, marking a growth of 37 per cent compared to the year-ago period.

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Meanwhile, the S&P BSE Sensex rose as much as 261.28 points to touch 38,992.14, while the Nifty50 barometer of the National Stock Exchange (NSE) surged 87.3 points to hit 11,729.10.

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