Axis Bank, private sector bank in India, reported a fall of 43.13% in net profit on year-on-year basis to Rs 12.25 billion for the quarter ended Mar. 31, 2017, compared with Rs 21.54 billion, a year ago as the private sector lender raised provisions for bad loans.

The bank has made provision of Rs 25.81 billion, which was higher by 2.20 times from prior year period to Rs 11.68 billion.

The bank's Net Interest Income (NII) grew 4% YOY to Rs 47.29 billion during Q4FY17 from Rs 45.53 billion in Q4FY16.

Shares of the bank gained Rs 2.15, or 0.42%, to settle at Rs 517.30. The total volume of shares traded was 837,508 at the BSE (Wednesday).