Axis Bank inches up in volatile trade after announcing Q1 numbers

Axis Bank was up 0.4% at Rs 586.25 at 14:56 IST on BSE after net profit rose 18.69% to Rs 1978.44 crore on 22.58% growth total income to Rs 12234.41 crore in Q1 June 2015 over Q1 June 2014.

Axis Bank announced the first quarter results during trading hours today, 24 July 2015.

The stock witnessed intraday volatility after the results hit the market in mid-afternoon trade. The stock hit high of Rs 593.50 and low of Rs 576 so far during the trading session. The scrip had hit record high of Rs 655.35 on 4 March 2015. The scrip had hit 52-week low of Rs 369.20 on 8 August 2014.

On BSE, so far 11.7 lakh shares were traded in the counter as against average daily volume of 8.44 lakh shares in the past one quarter.

The large-cap private sector bank has equity capital of Rs 475.12 crore. Face value per share is Rs 2.

Axis Bank's provisions and contingencies (net) jumped 190.16% to Rs 1121.77 crore in Q1 June 2015 over Q1 June 2014.

Axis Bank's gross non-performing assets on absolute basis edged higher to Rs 4251.18 crore as on 30 June 2015 from Rs 4110.19 crore as on 31 March 2015 and Rs 3463.27 crore as on 30 June 2014. The ratio of gross non-performing assets to gross advances stood at 1.38% as on 30 June 2015, higher than 1.34% each as on 31 March 2015 and 30 June 2014. The ratio of net non-performing assets to net advances stood at 0.48% as on 30 June 2015, higher than 0.44% each as on 31 March 2015 and 30 June 2014.

The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 14.5% as on 30 June 2015, compared with 15.09% as on 31 March 2015 and 15.53% as on 30 June 2014.

Axis Bank is one of the biggest private sector banks in India.

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