Axis Bank Shares Plunge Over 4% Post September Quarter Earnings

Axis Bank reported a 86 per cent jump in standalone net profit to Rs 3,133 crore in the second quarter ended September 2021, compared to Rs 1,682.67 crore in the corresponding period last year

Axis Bank shares have plunged more than 3 per cent in a strong marker a day after the private lender reported its September quarter earnings. Axis Bank reported a 86 per cent jump in standalone net profit to Rs 3,133 crore in the second quarter ended September 2021, compared to Rs 1,682.67 crore in the corresponding period last year. At 10:10 am, Axis Bank shares were trading at Rs 805.45, lower by 4.3 per cent, on the BSE.

The bank's net interest income grew to Rs 7,900 crore from Rs 7,326 crore in the corresponding period last year and net interest margin in the September quarter stood at 3.39 per cent.

Axis Bank's gross non-performing assets (NPA) and net NPA levels stood at 3.53 per cent and 1.08 per cent respectively, compared to 3.85 per cent and 1.20 per cent in the preceding April-June quarter.