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Axis Bank profit jumps 131% to Rs 1,681 crore

MUMBAI: Axis Bank on Tuesday announced that it has posted the strongest profit numbers in 11 quarters with an all-around improvement in its key business metrics and asset quality. The bank’s net profit for the third quarter (October-December) more than doubled to Rs 1,681 crore year-on-year, and operating profit grew 43 per cent to hit Rs 5,525 crore. During the quarter, the bank’s domestic loans grew at 18 per cent on the year, and total deposits by 26 per cent. Axis Bank Q3: Profit surges to Rs 1,680.8 crore versus Rs 726 crore; NII rises 18.4 per cent to Rs 5,603.6 crore versus Rs 4731.5 crore YoY. Gross NPA improves to 5.75 per cent versus 5.94 per cent and net NPA to Rs 2.36 per cent versus 2.54 per cent QoQ.


HCL Technologies Q3: Profit rises 2.8 percent to Rs 2,611 crore versus Rs 2,540 crore; revenue jumps 5.6 percent to Rs 15,699 crore versus Rs 14,861 crore QoQ. Revenue in constant currency also up 5.6 percent QoQ.

Rupee Opens: The Indian rupee opened lower by 25 paise at 71.36 per dollar on Wednesday against Tuesday's close 71.11.

Bank of Baroda Q3: Profit jumps to Rs 471.2 crore versus Rs 111.8 crore; NII grows 7.9 per cent to Rs 4,743.2 crore versus Rs 4,394 crore YoY. Net NPA improves to 4.26 percent versus 4.86 percent and gross NPA to 11.01 percent versus 11.78 percent QoQ.

Apar Industries Q3: Profit falls 12.2 percent to Rs 35 crore versus Rs 40 crore; revenue increases 41.4 percent to Rs 2,119 crore versus Rs 1,498.9 crore YoY.

Godrej Consumer Q3: Profit slips 1.5 percent to Rs 424 crore versus Rs 430 crore; revenue increases 3.5 percent to Rs 2,721.9 crore versus Rs 2,630.3 crore YoY.


Market Opens: It is a strong start for the Indian indices on Wednesday with Nifty is trading around 10,700.

At 09:17 hrs IST, the Sensex is up 148.83 points at 35741.33, while Nifty is up 41.10 points at 10693.30. About 472 shares have advanced, 299 shares declined, and 35 shares are unchanged.

Axis Bank, HCL Tech, Bank of Baroda, Bajaj Finserv, Indiabulls Housing, Yes Bank, ICICI Bank are among major gainers on the indices, while losers include Adani Ports, BPCL, HDFC Bank, Hero Moto, Dr Reddy's Lab. 

Share Market | Axis Bank | Rupee Update |
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