Axis Bank on Tuesday posted a net loss of Rs 13.88 billion for the quarter ended March 31 against a net profit of Rs 15.05 billion in the same period last year.

Spike in provisions and contingencies dented the bottomline of the lender. The figure increased by 185% year-on-year (YoY) to Rs 77.30 billion during the quarter under review.

Shares of the company gained Rs 27.2, or 6.37%, to settle  at  Rs 454.50.  The total volume of shares traded  was  1,460,331 at  the BSE (Tuesday).