Axis Bank shares jump over 4% after earnings announcement

Axis Bank share today: Shares of Axis Bank on Friday morning jumped over 4 per cent after firm's consolidated net profit for September quarter rose by 19.29 per cent.

stock climbed 4.11 per cent to Rs 1,178.75 on BSE. It emerged as biggest gainer among BSE Sensex firms. At NSE , it surged 4.13 per cent to Rs 1,178.70.

Axis Bank 's consolidated net profit for September quarter rose by 19.29 per cent to Rs 7,401.26 crore, but lender reported a pain in unsecured lending segment.

On a standalone basis, third largest private sector lender's net profit grew 18 per cent to Rs 6,917.57 crore in July-September quarter of FY2024-25.

bank, which is among first major lenders to report its earnings for quarter, saw core net interest income grow by 9 per cent to Rs 13,483 crore during quarter on back of an 11 per cent increase in net vances and net interest margin narrowing by 0.12 per cent to 3.99 per cent.

non-interest or or income shot up 34 per cent to Rs 6,722 crore, helped majorly by a Rs 1,111 crore gain on tring income front.

bank managed a 14 per cent growth in total deposit front and me it clear that it is not using price as a lever to attract liabilities.

Its total income increased to Rs 37,142 crore during quarter under review against Rs 31,660 crore in same period last year, Axis said in a regulatory filing on Thursday.