Axis Bank had reported a net profit of Rs 1,757 crore for third quarter ended December 2019.
Axis Bank stock jumped nearly 5 per cent to Rs 448 on the BSE ahead of its Q4 numbers to be announced later in the day. At 10:00 am, the shares of Axis Bank were trading at Rs 442, higher by Rs 15 or 3.4 per cent, on the BSE. The shares opened the day at Rs 439 and touched an intra-day high of Rs 448 and a low of Rs 439 thus far.
The country's third largest lender had reported a net profit of Rs 1,757 crore for the third quarter ended December 2019. This was 4.53 per cent higher compared with the corresponding period a year ago, boosted primarily by lower provisioning for non-performing assets (NPAs) or bad loans.
Axis Bank's net interest income - or the difference between interest earned and interest expended - had risen 15.16 per cent to Rs 6,453 crore in the October-December period.
The Sensex had edged lower by 40 points at 31,695 and the Nifty had shed 15 points at 9,269 at the time.
