<p>New Delhi: Shares of Axis Bank on Friday tanked nearly 5 per cent after the country's third largest private sector lender reported a decline in March quarter profit.</p>.<p>The stock dropped 4.58 per cent to Rs 1,151.95 on the BSE.</p>.<p>At the NSE, it tumbled 4.55 per cent to Rs 1,152.10.</p>.<p>The stock emerged as the biggest laggard among the BSE Sensex and NSE Nifty firms during the morning trade.</p>.<p>In the equity market, the 30-share BSE benchmark gauge traded 691.41 points lower at 79,110.02, and the Nifty quoted 237.50 points down at 24,009.20.</p>.<p>Axis Bank on Thursday reported a marginal decline in March quarter profit to Rs 7,117 crore from Rs 7,130 crore in the year-ago period.</p>.<p>A 64 per cent rise in loan loss provisions and a steep fall in the trading income were the primary reasons for the decline in the bottomline, along with a shift in the bank's strategies.</p>.Hindustan Unilever shares drop over 4% after earnings announcement.<p>Its Chief Executive and Managing Director Amitabh Chaudhry said it chose to focus on profitability over growth in FY25, given the difficult environment.</p>.<p>Overall provisions moved up to Rs 1,359 crore as against Rs 1,185 crore in the year-ago period, but it was a 64 per cent rise in loan loss provisions at Rs 1,369 crore, which hurt the profits.</p>.<p>Trading income dropped 83 per cent to Rs 173 crore from Rs 1,021 crore in the quarter-ago period.</p>
<p>New Delhi: Shares of Axis Bank on Friday tanked nearly 5 per cent after the country's third largest private sector lender reported a decline in March quarter profit.</p>.<p>The stock dropped 4.58 per cent to Rs 1,151.95 on the BSE.</p>.<p>At the NSE, it tumbled 4.55 per cent to Rs 1,152.10.</p>.<p>The stock emerged as the biggest laggard among the BSE Sensex and NSE Nifty firms during the morning trade.</p>.<p>In the equity market, the 30-share BSE benchmark gauge traded 691.41 points lower at 79,110.02, and the Nifty quoted 237.50 points down at 24,009.20.</p>.<p>Axis Bank on Thursday reported a marginal decline in March quarter profit to Rs 7,117 crore from Rs 7,130 crore in the year-ago period.</p>.<p>A 64 per cent rise in loan loss provisions and a steep fall in the trading income were the primary reasons for the decline in the bottomline, along with a shift in the bank's strategies.</p>.Hindustan Unilever shares drop over 4% after earnings announcement.<p>Its Chief Executive and Managing Director Amitabh Chaudhry said it chose to focus on profitability over growth in FY25, given the difficult environment.</p>.<p>Overall provisions moved up to Rs 1,359 crore as against Rs 1,185 crore in the year-ago period, but it was a 64 per cent rise in loan loss provisions at Rs 1,369 crore, which hurt the profits.</p>.<p>Trading income dropped 83 per cent to Rs 173 crore from Rs 1,021 crore in the quarter-ago period.</p>