A shocking factor for Axis Bank regards to share fall over 5%, despite net profit soaring 54% to Rs 4118 crore.

Axis Bank on Thursday reported a 54 per cent jump in its standalone net profit to ₹ 4,117.77 crore for the quarter ended March 2022.

But on Friday, the bank’s shares were down over 4 per cent at around ₹ 747 on the BSE.

The country’s third-largest private sector lender had posted a net profit of ₹ 2,677.06 crore in the year-ago period.

The total income (standalone) rose to ₹ 21,999.58 crore in the January-March period of 2021-22 against ₹ 19,035.12 crore in the same period of 2020-21, Axis Bank said in a regulatory filing.

For the full 2021-22, the net profit nearly doubled to ₹ 13,025.48 crore from ₹ 6,588.50 crore in 2020-21.

Its income increased to ₹ 82,597.37 crore from ₹ 75,609.83 crore.

The bank’s asset quality showed improvement, as its gross non-performing assets (NPAs) fell to 2.82 per cent of the gross advances as of March 31, 2022, from 3.70 per cent at the end of March 2021

In value terms, the gross NPAs declined to ₹ 21,822.32 crore, from ₹ 25,314.84 crore.

Net NPAs too came down to 0.73 per cent (Rs 5,512.16 crore) compared to ₹ 1.05 per cent (Rs 6,993.52 crore).

On a consolidated basis, the net profit in fourth quarter of 2021-22 grew by 50 per cent to ₹ 4,434 crore from ₹ 2,960.40 crore a year ago. The total income rose to ₹ 23,000.69 crore from ₹ 19,850.11 crore.

Shares of Axis Bank closed at ₹ 779.95 apiece on BSE, up 1.81 per cent from the previous close.