Axis Bank gains after Q4 earnings

Axis Bank rose 1.19% to Rs 749.65 at 11:01 IST on BSE after the bank reported turnaround results after market hours yesterday, 25 April 2019.

Meanwhile, the S&P BSE Sensex was up 69.41 points, or 0.18% to 38,800.27.

On the BSE, 3.09 lakh shares were traded in the counter so far compared with average daily volumes of 3.66 lakh shares in the past two weeks. The stock had hit a high of Rs 765 and a low of Rs 747.75 so far during the day. The stock hit a 52-week high of Rs 788.55 on 28 March 2019. The stock hit a 52-week low of Rs 479 on 27 April 2018.

Axis Bank reported net profit of Rs 1505.06 crore in Q4 March 2019 compared with net loss of Rs 2188.74 Q4 March 2018. Total income rose 25.86% to Rs 18324.31 crore in Q4 March 2019 over Q4 March 2018.

The bank's gross non-performing assets (NPAs) stood at Rs 29,789.44 crore as on 31 March 2019 as against Rs 30,854.67 crore as on 31 December 2018 and Rs 34,248.64 crore as on 31 March 2018.

The ratio of gross NPAs to gross advances stood at 5.26% as on 31 March 2019 as against 5.75% as on 31 December 2018 and 6.77% as on 31 March 2018.

The ratio of net NPAs to net advances stood at 2.06% as on 31 March 2019 as against 2.36% as on 31 December 2018 and 3.40% as on 31 March 2018..

The bank's provisions and contingencies fell 62.23% to Rs 2,711.43 crore in Q4 March 2019 over Q4 March 2018.

Axis Bank is a private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering large and mid-corporates, MSME, agriculture and retail businesses.

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