<p class="bodytext">Shares of Axis Bank on Thursday erased all its early losses and closed with a gain of over 6 per cent as non-performing assets eased in the December quarter.</p>.<p class="bodytext">Defying a weak opening where the stock dipped 2.35 per cent to Rs 617 on the BSE, shares of Axis Bank bounced back and closed at Rs 670.85, a jump of 6.16 per cent. During the day, it zoomed 6.72 per cent to Rs 674.40.</p>.<p class="bodytext">On the NSE, it opened lower and declined 2.54 per cent to Rs 616. In a similar trend, it bounced back as the trade progressed and closed at Rs 667.10, a gain of 5.54 per cent.</p>.<p class="bodytext">In traded volume terms, 22.15 lakh shares were traded at the BSE and over 6.43 crore units at the NSE during the day.</p>.<p class="bodytext">Private sector lender Axis Bank on Wednesday reported a 36.4 per cent decline in standalone net profit to Rs 1,116.60 crore for the third quarter ended December.</p>.<p class="bodytext">The bank had posted a net profit of Rs 1,757 crore in the corresponding period of the previous financial year.</p>.<p class="bodytext">Total income during the quarter under review slipped to Rs 19,274.39 crore as against Rs 19,494.87 crore in the year-ago period, Axis Bank said in a regulatory filing.</p>.<p class="bodytext">"Reported profits after tax for the quarter are adversely impacted to the extent of Rs 1,050 crores on account of prudent expenses and provisioning charges during the quarter," it said.</p>.<p class="bodytext">However, the gross non-performing assets (NPAs) eased to 3.44 per cent of the gross advances, from 5 per cent a year ago.</p>.<p class="bodytext">Net NPAs also improved to 0.74 per cent of the net advances as on December from 2.09 per cent by the end of December 2019.</p>
<p class="bodytext">Shares of Axis Bank on Thursday erased all its early losses and closed with a gain of over 6 per cent as non-performing assets eased in the December quarter.</p>.<p class="bodytext">Defying a weak opening where the stock dipped 2.35 per cent to Rs 617 on the BSE, shares of Axis Bank bounced back and closed at Rs 670.85, a jump of 6.16 per cent. During the day, it zoomed 6.72 per cent to Rs 674.40.</p>.<p class="bodytext">On the NSE, it opened lower and declined 2.54 per cent to Rs 616. In a similar trend, it bounced back as the trade progressed and closed at Rs 667.10, a gain of 5.54 per cent.</p>.<p class="bodytext">In traded volume terms, 22.15 lakh shares were traded at the BSE and over 6.43 crore units at the NSE during the day.</p>.<p class="bodytext">Private sector lender Axis Bank on Wednesday reported a 36.4 per cent decline in standalone net profit to Rs 1,116.60 crore for the third quarter ended December.</p>.<p class="bodytext">The bank had posted a net profit of Rs 1,757 crore in the corresponding period of the previous financial year.</p>.<p class="bodytext">Total income during the quarter under review slipped to Rs 19,274.39 crore as against Rs 19,494.87 crore in the year-ago period, Axis Bank said in a regulatory filing.</p>.<p class="bodytext">"Reported profits after tax for the quarter are adversely impacted to the extent of Rs 1,050 crores on account of prudent expenses and provisioning charges during the quarter," it said.</p>.<p class="bodytext">However, the gross non-performing assets (NPAs) eased to 3.44 per cent of the gross advances, from 5 per cent a year ago.</p>.<p class="bodytext">Net NPAs also improved to 0.74 per cent of the net advances as on December from 2.09 per cent by the end of December 2019.</p>