Shares of Axis Bank plunged more than 3% in a strong marker a day after the private lender reported its September quarter results. Axis Bank announced an 86% increase in its stand-alone net profit to Rs 3,133 crore in the second quarter ended September 2021, from Rs 1,682.67 crore in the corresponding period last year. At 10:10 am, Axis Bank shares were trading at Rs 805.45, down 4.3%, on BSE.
The bank’s net interest income rose to Rs 7,900 crore from Rs 7,326 crore in the corresponding period last year and the net interest margin in the September quarter stood at at 3.39%.
Axis Bank’s gross non-performing assets (APM) and net APM levels were 3.53% and 1.08%, respectively, compared to 3.85% and 1.20% in the previous quarter of April to June.
The BSE Sensex and NSE Nifty were trading flat at the time.