Axis Bank was almost flat at Rs 2016.45 at 9:25 IST on BSE after the bank reported 18.29% rise in net profit to Rs 1666.76 crore on 10.17% growth in total income to Rs 9980.47 crore in Q1 June 2014 over Q1 June 2013.
The result was announced after market hours on Tuesday, 22 July 2014.
Meanwhile, the BSE Sensex was up 74.38 points, or 0.29%, to 26,100.18.
On BSE, so far 20,000 shares were traded in the counter, compared with an average volume of 1.55 lakh shares in the past one quarter.
The stock hit a high of Rs 2,027.40 and a low of Rs 1,999.25 so far during the day. The stock hit a 52-week high of Rs 2,037.55 on 21 July 2014. The stock hit a 52-week low of Rs 764 on 4 September 2013.
The stock had outperformed the market over the past one month till 22 July 2014, rising 8.03% compared with 3.67% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 34.50% as against Sensex's 14.36% rise.
The large-cap private sector bank has an equity capital of Rs 471.49 crore. Face value per share is Rs 10.
Axis Bank's gross non-performing assets (NPAs) were at 1.34% of gross advances as on 30 June 2014, higher than 1.22% as on 31 March 2014 and 1.1% as on 30 June 2013. Net NPAs were 0.44% of net advances as on 30 June 2014, higher than 0.4% as on 31 March 2014 and 0.35% as on 30 June 2013.
Provisions and contingencies fell 45.7% to Rs 386.60 crore in Q1 June 2014 over Q1 June 2013. The bank held a provision coverage of 77% as on 30 June 2014, as a proportion of Gross NPAs, including prudential writeoffs. The provision coverage before accumulated write-offs was 87%.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 15.53% as on 30 June 2014, compared with 16.07% as on 31 March 2013 and 15.87% as on 30 June 2013.
Current and savings account (CASA) deposits, on a daily average basis, during Q1 June 2014 grew 16% year on year, constituting 40% of total deposits, compared to 39% during the same period last year.
Powered by Capital Market - Live News
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app