Axis Bank shares surge over 6%; top gainer on Sensex, Nifty

Thursday, Jan 21, 2016,12:34 IST By Metrovaartha A A A

Mumbai | Shares of Axis Bank today rose by over 6 per cent after the company saw 15 per cent growth in its December quarter net profit. The stock gained 6.11 per cent to Rs 412.40 on BSE. At NSE, the scrip surged 6.41 per cent to Rs 412.45. The stock was the biggest gainer among the blue-chips on both Sensex and Nifty during the morning trade.

Private lender Axis Bank yesterday reported a 15 per cent rise in net profit at Rs 2,175 crore for the December quarter. Net profit for the same quarter last fiscal stood at Rs 1,900 crore. Total income of the bank rose to Rs 12,531 crore, from Rs 10,929 crore in the year-ago period.

As on December 31 last year, Axis Bank’s portfolio quality deteriorated, with gross non-performing assets (NPAs) rising to 1.68 per cent of gross advances as against 1.34 per cent in the same quarter of the previous fiscal. Its net non-performing assets also jumped to 0.75 per cent, from the earlier 0.44 per cent.

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