Axis Bank stock slumps 9.5% post Q2 results

Axis Bank stock slumps 9.5% post Q2 results

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Axis Bank stock ended 9.5% lower at Rs. 461 after bank posted Q2 results.

The Bank’s Gross NPA and Net NPA levels stood at 5.90% and 3.12% respectively.

The Bank’s Net Interest Income (NII) grew 1% YOY to Rs.4,540 crores during Q2FY18 from Rs.4,514 crores in Q2FY17.

Net interest margin for Q2FY18 stood at 3.45%. NII for H1FY18 too rose 1% YOY to Rs.9,156 crores from Rs.9,031 crores in H1FY17.

Gross slippages for the quarter stood at Rs. 8936 crore.Net slippage (before write-offs) in retail and SME stood at Rs. 292 crores and Rs. 219 crores respectively.