Axis Bank inches up after good Q2 results

Axis Bank rose 0.55% to Rs 1,087.35 at 14:05 IST on BSE after net profit rose 21.25% to Rs 1362.31 crore on 13.22% increase in total income to Rs 9375.08 crore in Q2 September 2013 over Q2 September 2012.

The result was announced during trading hours today, 17 October 2013.

Meanwhile, the BSE Sensex was down 112.95 points, or 0.55%, to 20,434.67.

On BSE, 4.40 lakh shares were traded in the counter compared with average volume of 4.93 lakh shares in the past one quarter.

The stock hit a high of Rs 1,108 and a low of Rs 1,067 so far during the day. The stock hit a 52-week high of Rs 1,549 on 20 May 2013. The stock 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 October 2013, rising 2.25% compared with the Sensex's 4.13% rise. The scrip had also underperformed the market in past one quarter, falling 17.42% as against Sensex's 2.56% rise.

The large-cap company has an equity capital of Rs 469.19 crore. Face value per share is Rs 10.

Axis Bank's ratio of net non-performing assets (NPA) to net advances stood at 0.37% as on 30 September 2013, compared with 0.35% as on 30 June 2013 and 0.33% as on 30 September 2012.

The bank's ratio of gross NPA to gross advances stood at 1.19% as on 30 September 2013, compared with 1.10% as on 30 June 2013 and 1.10% as on 30 September 2012.

Provisions and contingencies rose 34.96% to Rs 687.49 crore in Q2 September 2013 over Q2 September 2012.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 15.85% as on 30 September 2013, compared with 15.87% as on 30 June 2013.

Axis Bank is the third largest private sector bank in India. With its 2,021 domestic branches (including extension counters) and 11,488 ATMs across the country, as on 30 June 2013, the network of Axis Bank spreads across 1,300 cities and towns. The bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.

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