Axis Bank shares jump over 4% on smart earning nos
Mumbai: Shares of Axis Bank Thursday rose by over 4 percent, after the private sector lender reported 22 percent jump in net profit for the March quarter.
The bank's scrip ended at Rs 1,503.45, up 4.13 percent on the BSE. In intra-day, the scrip gained 5.18 percent to Rs 1,518.60.
At NSE, the stock jumped 3.68 percent to Rs 1,498.
"Axis reported PAT which was higher than consensus, driven by better non-interest income," brokerage firm Prabhudas Lilladher said in a report.
Axis Bank yesterday reported a 22 percent jump in net profit for the March quarter at Rs 1,555 crore helped by growth in both core and non-interest income.
The country's third largest private sector lender had posted a net profit of Rs 1,277 crore in the corresponding quarter of last fiscal.
Net interest income grew 24.16 percent to Rs 2,664 crore while the other income was up 26.43 percent to 2,007 crore, aided by a 62.83 percent growth in trading income which came in at Rs 237.76 crore.