On the
The stock emerged as the biggest laggard among the Sensex and
The company's
After a sharp fall in intra-day trade, the 30-share BSE Sensex settled 109.08 points or 0.14 per cent lower at 80,039.80 and the
Axis Bank on Wednesday reported a 5.66 per cent rise in consolidated net profit for the June quarter at Rs 6,436 crore, restricted by challenges on the asset quality front.
On a standalone basis, the third biggest private sector lender reported a 4 per cent rise in net profit at Rs 6,035 crore.
The core net interest income grew 12 per cent to Rs 13,448 crore during the quarter on the back of the Net Interest Margin (
The bank witnessed a jump in gross slippages to Rs 4,793 crore during the quarter as against Rs 3,471 crore in the March quarter and Rs 3,990 crore in the year-ago period.
Analysts at domestic brokerage Stoxbox said the earnings are "muted" and the provisions are high.