Shares of Axis Bank zoomed 3% on the BSE in the morning trade as Q2FY19 NII was up by ~15% yoy to Rs5,232cr against Rs4,540cr yoy.
Net profit for the quarter was 29% above consensus estimates at Rs789.6cr and against Rs432.4cr yoy.
Its GNPA for Q2FY19 stood at ~6% against 6.52% qoq, decreased by 56bps. NNPA for the quarter came at 2.54% against 3.09% qoq, which has decreased by 55bps.
NII growth is the highest in the last 10 quarters. Fresh slippages for the quarter came at Rs2,777cr, which has declined by 36% qoq. Slippage ratio is at 2.8% of opening loans versus 4.6% in Q1FY19.
Axis Bank Ltd is currently trading at Rs628.45 up by Rs18.5 or 3.03% from its previous closing of Rs609.95 on the BSE.
The scrip opened at Rs627 and has touched a high and low of Rs632.90 and Rs617 respectively.
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