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Axis Bank Shares Gain After Q4 Net Profit Rises
Shares of the Axis Bank gained more than 4 per cent on Thursday after the robust Q4 earnings.
On Monday, the bank reported a net profit of Rs 2181 crore for the quarter ended March 31, 2015 as compared to Rs. 1842 crore for the quarter ended March 31, 2014.
Total Income increased from Rs. 1017 crore for the quarter ended March 31, 2014 to Rs. 1238 crore for the quarter ended March 31, 2015.
The Shikha Sharma-led bank reported a net interest income of Rs 3,799 crore, higher by 20 per cent.
The board has recommended the dividend of Rs. 4.60 per equity share i.e. 230% on equity shares of the Bank and the same will be payable after it is approved by the shareholders.
In the annual meeting held of 29 April, 2015, the Board have approved the proposal to seek enabling approval of shareholders for increase in the cap of foreign Investment in the Bank from 62% to 74% of its paid up equity capital of the Bank.
Axis Bank was seen trading at Rs 579.50, higher by 4.81 per cent on BSE at 10.35 AM IST. It touched an intra-day high of Rs 579.80 during the trade.
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