Axis Bank dips 4% on profit booking post September quarter results

The bank reported a weak operating performance in the quarter ended September 2021, owing to decline in margin, higher opex and sluggish business growth

Shares of Axis Bank dipped 4 per cent to Rs 808.55 on the BSE in Wednesday’s intra-day trade on profit booking after the bank reported a weak operating performance in September quarter (Q2FY22). In past three weeks, the private sector lender was up 8 per cent. The stock had hit a record high of Rs 867 on Monday, October 25, 2021.

In Q2FY22, Axis Bank’s net interest income (NII) was up modestly by 7.8 per cent year-on-year (YoY) at Rs 7,900 crore on account of 19 bps YoY fall in net interest margins (NIMs) to 3.39 per cent. Margins