Money Maker Research & Investment Advisor: Axis Bank Q3 profit rises 25 pct

Share it

Monday, 22 January 2018

Axis Bank Q3 profit rises 25 pct

Stock Market Update, Indian Stock Market Tips, nifty expert prediction, Exert Tips on Stock Trading, Stock-to-Buy-Sell, Free Trading Tips, Intraday Trading Call, Top advisory, Money Maker Research
Axis Bank Ltd posted a 25.3% rise in its Q3 net profit, helped by higher interest and fee income plus a drop in provisions for bad loans, although results fell slightly short of a consensus estimate.

Net profit rose to Rs 726.44 crore or USD 113.86 million, for the quarter ended Dec 31, 2017 from Rs 579.57 crore a year ago, the country's third-largest private sector lender by assets, announced on Monday.

Gross bad loans as a percentage of total loans stood at 5.28% at December end, vis-à-vis 5.90% in the previous quarter and 5.22% a year earlier.

Shares of Axis Bank today closed at Rs. 614 on the BSE, up 4.02% from previous its close, while benchmark Sensex index rose 0.81% to 35,798.10 points, while on NSE the share price closed at Rs 611.30 up by 3.57%

No comments:

Post a Comment

Note: only a member of this blog may post a comment.