Shares of Axis Bank Ltd. have surged in early trade, reaching an intraday high of Rs 1,216 after the lender reported its September quarter earnings for the financial year ending March 2026, on Wednesday.
The stock is currently trading at Rs 1,198, which accounts for a gain of more than 2.5%. This compares to Wednesday’s closing price of Rs 1,169.
Axis Bank reported its September quarter earnings after market close on Wednesday, with net profit seeing a 24% decline at Rs 5,090 crore – a nine-quarter low. Profit numbers missed the estimate of Rs 5,838 crore, as projected by the analysts tracked by Bloomberg.
Impact on net profit, though, was largely on account of a one-time standard asset provisioning of Rs 1,230 crore.
Provisions and contingencies of the bank surged sharply by 61% to Rs 3,547 crore in the July-September period, compared to Rs 2,204.09 crore in the corresponding period of the last fiscal.
