Axis Bank gains 8% on better-than-expected June quarter earnings

In Q1FY21, the bank's gross non-performing assets (GNPA) were at 4.72 per cent, compared to 5.25 per cent in the year ago quarter and 4.86 per cent in the fourth quarter.

Shares of Axis Bank surged 8 per cent to Rs 482.85 in the early morning trade on the BSE on Wednesday after the private sector lender reported a healthy set of April-June (Q1FY21) quarter numbers with a strong operational performance.

The bank’s net interest income (NII) grew 20 per cent year-on-year (YoY) to Rs 6,985 crore from Rs 5,844 crore in the year ago quarter. Net interest margin, meanwhile, at the end of the quarter under review stood at 3.40 per cent.

As regards asset quality, the bank's gross non-performing assets (GNPA) were at 4.72 per cent, compared to 5.25 per cent