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%