AXIS Bank drops in choppy trade as bad loans rise

AXIS Bank lost 0.13% to Rs 1,176.60 at 13:05 IST on BSE as the bank's gross non-performing assets increased to Rs 3008.20 crore as on 31 December 2013, from Rs 2734.47 crore as on 30 September 2013 and Rs 2275.30 crore as on 31 December 2012.

The Q3 result was announced during trading hours today, 16 January 2014.

Meanwhile, the S&P BSE Sensex was down 54.42 points or 0.26% at 21,235.07.

On BSE, so far 2.58 lakh shares were traded in the counter as against average daily volume of 3.11 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 0.24% at the day's low of Rs 1,175.30 so far during the day. The stock rose as much as 1.68% at the day's high of Rs 1,197.95 so far during the day. The stock had hit a 52-week high of Rs 1,549 on 20 May 2013. The stock had hit a 52-week low of Rs 764 on 4 September 2013.

The stock had underperformed the market over the past one month till 15 January 2014, declining 4.98% compared with the Sensex's 2.77% rise. The scrip had, however, outperformed the market in past one quarter, surging 8.95% as against Sensex's 3.61% rise.

The large-cap bank has equity capital of Rs 469.26 crore. Face value per share is Rs 10.

AXIS Bank's ratio of gross non-performing assets to gross advances increased to 1.25% as on 31 December 2013, from 1.19% as on 30 September 2013 and 1.1% as on 31 December 2012. The ratio of net non-performing assets (NPAs) to net advances increased to 0.42% as on 31 December 2013, from 0.37% as on 30 September 2013 and 0.33% as on 31 December 2012.

AXIS Bank's net profit rose 19.06% to Rs 1604.11 crore on 9.94% growth in total income to Rs 9433.55 crore in Q3 December 2013 over Q3 December 2012.

The bank's provisions and contingencies declined 47.65% to Rs 202.49 crore in Q3 December 2013 over Q3 December 2012. Provisions and contingencies declined 70.54% on sequential basis.

AXIS Bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 15.5% as on 31 December 2013, as against 15.85% as on 30 September 2013.

AXIS Bank is the third largest private sector bank in India. The bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.

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