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Shares of private sector lender Axis Bank today rose 4 per cent after it reported 22 per cent jump in net profit for the first quarter ended June 30, 2013.
Surging 4.54 per cent to Rs 1,247 on the BSE in intra-day trade, the stock finally closed at Rs 1,238.40, up 3.83 per cent from its previous close.
At the NSE, it closed at Rs 1,241.8, up 4.03 per cent.
In terms of volume, 6.95 lakh Axis shares changed hands on the BSE, while over 57 lakh shares were traded on the NSE.
“Axis Bank rose on the back of strong Q1 numbers against expectation,” said Milan Bavishi, Head Research, Inventure Growth and Securities.
It reported 22 per cent growth in net profit at Rs 1,408.93 crore for the April-June quarter. The company had a net profit of Rs 1,154.15 crore in the April-June quarter of the 2012-13 fiscal.
Total income of the lender rose to Rs 9,059.12 crore in the quarter under review, from Rs 7,818 crore in the same period of last fiscal.
As of June 30, Axis Bank’s gross non-performing assets (NPAs) rose to 1.10 per cent of advances as against 1.06 per cent in the same quarter of the previous fiscal.
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