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22 October, 2020 23:39 IST
Axis Bank falls 4% on weak results; higher provisions
Source: IRIS | 29 Apr, 2020, 12.35PM
Rating: NAN / 5 stars.
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Shares of Axis Bank on Wednesday fell 4% intraday after it 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 Axis Bank  are trading at Rs 439.10, down Rs 16.45, or 3.61%  at the Bombay Stock Exchange (BSE) on Wednesday at 11:18 a.m.

The scrip has touched an intra-day high of Rs 445.35 and low of Rs 427.50. The total volume of shares traded at the BSE is 991,080.

In the earlier session, the shares gained 6.61%, or Rs 28.25, at Rs 455.55. Currently, the stock is trading down  46.88% from its 52-week high of Rs 826.55  and above 54.07% over the 52-week low of Rs 285.00.

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