Axis Bank shares climb nearly 2% after Q2 earnings; mcap jumps Rs 5,144.4 cr

New Delhi: Shares of Axis Bank climbed nearly 2 per cent on Thursday after the firm reported a 10 per cent increase in the September quarter profit.

The stock advanced 1.74 per cent to settle at Rs 971.95 after a positive beginning at the BSE. During the day, it gained 2 per cent to touch Rs 975.

At the NSE, it climbed 1.89 per cent to end at Rs 973.55 apiece.

The company's market valuation jumped Rs 5,144.4 crore to Rs 2,99,560.40 crore.

On the traded volume front, 4.96 lakh shares of the firm were traded at the BSE and over 1.75 crore shares at the NSE during the day.

Private sector lender Axis Bank on Wednesday reported a 10 per cent increase in the September quarter net profit to Rs 5,864 crore on higher interest income.

The lender had reported a net profit of Rs 5,330 crore in the year-ago period.

The bank's net interest income (NII) grew 19 per cent year-on-year to Rs 12,315 crore.

Its provisioning rose to Rs 815 crore during the second quarter of the current fiscal from Rs 550 crore in the year-ago period.

Axis Bank's total income rose to Rs 31,660 crore during the quarter, from Rs 24,094 crore last year.

The bank's gross NPA at 1.73 per cent at the end of September declined 77 basis points year-on-year and 23 bps quarter-on-quarter.

Net NPA at 0.36 per cent declined 15 bps year-on-year and 5 bps quarter-on-quarter.