Axis Bank was down 3.13% to Rs 684.4 at 10:01 IST on the BSE after bank's net profit rose 95.4% to Rs 1370.08 crore on 21.8% increase in total income to Rs 19,123.71 crore in Q1 June 2019 over Q1 June 2018.
The result was announced after market hours today, 30 July 2019.
Meanwhile, the S&P BSE Sensex was up by 95.34 points or 0.25% to 37,301.90.
On the BSE, 6.04 lakh shares were traded in the counter so far compared with average daily volumes of 2.76 lakh shares in the past two weeks. The stock had hit a high of Rs 695.35 and a low of Rs 657.65 so far during the day. The stock hit a 52-week high of Rs 826.55 on 6 June 2019. The stock hit a 52-week low of Rs 534.15 on 26 October 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 29,404.90 crore as on 30 June 2019 as against Rs 29,789.44 crore as on 31 March 2019 and Rs 32,662.40 crore as on 30 June 2018.
The ratio of gross NPAs to gross advances stood at 5.25% as on 30 June 2019 as against 5.26% as on 31 March 2019 and 6.52% as on 30 June 2018.
The ratio of net NPAs to net advances stood at 2.04% as on 30 June 2019 as against 2.06% as on 31 March 2019 and 3.09% as on 30 June 2018.
Net interest income (interest earned less interest expended) for the quarter ended 30 June 2019 grew by 13% to 5,844 crore from Rs 5,167 crore for the quarter ended 30 June 2018.
The bank's provision coverage ratio increased to 78% as on 30 June 2019 compared with 77% on 30 June 2018.
The bank's capital adequacy ratio (Basel III) declined to 15.82% in Q1 June 2019 from 16.57% in Q1 June 2018.
Axis Bank provides a wide range of banking products and financial services to corporate and retail customers.
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