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Axis Bank rises despite reporting 30% fall in Q3 consolidated net profit

Axis Bank is currently trading at Rs. 643.05, up by 11.15 points or 1.76% from its previous closing of Rs. 631.90 on the BSE.

The scrip opened at Rs. 617.00 and has touched a high and low of Rs. 646.35 and Rs. 617.00 respectively. So far 1186212 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 760.60 on 12-Feb-2020 and a 52 week low of Rs. 285.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 695.00 and Rs. 627.50 respectively. The current market cap of the company is Rs. 195659.59 crore.

The promoters holding in the company stood at 13.93%, while Institutions and Non-Institutions held 74.55% and 11.46% respectively.

Axis Bank has reported a fall of 36.45% in its net profit at Rs 1,116.60 crore for the quarter ended December 31, 2020 as compared to Rs 1,757 crore for the same quarter in the previous year. Total income of the bank decreased by 1.13% at Rs 19,274.39 crore for Q3FY21 as compared Rs 19,494.87 crore for the corresponding quarter previous year.

On the consolidated basis, the bank has reported a fall of 29.74% in its net profit of Rs 1,317.91 crore for the quarter ended December 31, 2020 as compared to Rs 1,875.72 crore for the same quarter in the previous year. Total income of the bank decreased by 0.33% at Rs 19,910.93 crore for Q3FY21 as compared Rs 19,975.99 crore for the corresponding quarter previous year.

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