Axis Bank lost 5.83% to Rs 455.50 at 09:19 IST on BSE after net profit dropped 73.35% to Rs 579.57 crore on 15.72% growth in total income to Rs 14501.21 crore in Q3 December 2016 over Q3 December 2015.
The result was announced after market hours yesterday, 19 January 2017.Meanwhile, the BSE Sensex was down 59 points, or 0.22%, to 27,249.60
On BSE, so far 3.27 lakh shares were traded in the counter, compared with average daily volume of 5.41 lakh shares in the past one quarter. The stock hit a high of Rs 461 and a low of Rs 452.05 so far during the day.
The stock hit a 52-week high of Rs 638 on 7 September 2016. The stock hit a 52-week low of Rs 373.30 on 11 February 2016.
The large-cap private sector bank has equity capital of Rs 478.31 crore. Face value per share is Rs 2.
Axis Bank's gross non-performing assets (NPA) stood at Rs 20466.82 crore as on 31 December 2016 as against Rs 16378.65 crore as on 30 September 2016 and Rs 5724.05 crore as on 31 December 2015.
The bank's ratio of gross NPAs to gross advances stood at 5.22% as on 31 December 2016, as against 4.17% as on 30 September 2016 and 1.68% as on 31 December 2015.
The bank's ratio of net NPAs to net advances stood at 2.18% as on 31 December 2016, compared with 2.02% as on 30 September 2016 and 0.75% as on 31 December 2015.
Axis Bank's provisions and contingencies jumped 432.67% to Rs 3795.80 crore in Q3 December 2016 over Q3 December 2015.
On 13 January 2017, Axis Bank announced reduction in its lending rates based on marginal cost of funds based lending rate by 65 to 70 basis points across various tenors with effect from 18 January 2017.
Axis Bank is one of the biggest private sector banks in India.
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