Axis Bank surges 4% following spectacular results

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 Axis Bank surges 4% following spectacular results
Axis Bank: Quotes, News
BSE 456.70BSE Quote4.3 (0.94%)
NSE 455.95NSE Quote4.8 (1.05%)
Shares of Axis Bank surged more than 4% following a spectacular set of results posted by the company.

The stock was traded at Rs 1163, up Rs 44 on the Bombay Stock Exchange.

On Monday Axis Bank unveiled its Q2 results, which showed profit after tax up more than 22%. The Bank achieved a total income of Rs. 8,280.29 crore in the second quarter ended September 30, 2012 against Rs. 6,510.89 crore in the same period in the previous year.

The quarterly numbers posted by the company were much better than what analysts had projected.

"The main business segments driving fee growth during the quarter were retail banking, which grew 43% y-o-y and large and mid-corporate banking which increased 15% y-o-y. SME and agricultural banking fees picked up 17% y-o-y in the quarter. Trading profits of the bank were Rs 207 crore during Q2FY13," the bank said in a press statement.

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Story first published: Tuesday, October 16, 2012, 12:47 [IST]
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