Axis Bank falls despite reporting a 75% rise in Q1 consolidated net profit

Axis Bank is currently trading at Rs. 682.85, down by 23.70 points or 3.35% from its previous closing of Rs. 706.55 on the BSE.

The scrip opened at Rs. 694.00 and has touched a high and low of Rs. 695.35 and Rs. 657.65 respectively. So far 648367 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 826.55 on 06-Jun-2019 and a 52 week low of Rs. 534.15 on 26-Oct-2018.

Last one week high and low of the scrip stood at Rs. 745.00 and Rs. 657.65 respectively. The current market cap of the company is Rs. 179849.22 crore.

The promoters holding in the company stood at 18.10%, while Institutions and Non-Institutions held 71.49% and 10.38% respectively.

Axis Bank has reported 95.42% rise in its net profit at Rs 1370.08 crore for the quarter ended June 30, 2019, as compared to Rs 701.09 crore for the same quarter in the previous year. Total income of the bank increased by 21.79% at Rs 19123.71 crore for Q1FY20 as compared Rs 15702.01 crore for the corresponding quarter previous year.

On the consolidated basis, the bank has reported a rise of 74.87% in its net profit at Rs 1262.98 crore for the quarter ended June 30, 2019, as compared to Rs 722.23 crore for the same quarter in the previous year. Total income of the bank increased by 20.36% at Rs 19409.09 crore for Q1FY20 as compared Rs 16126.05 crore for the corresponding quarter previous year.

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