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India's Axis Bank reported lower-than-expected first-quarter earnings for Q1FY25, missing profit estimates due to worsening asset quality, higher provisions, and elevated credit costs. The bank's shares fell 5% following the announcement, with a further plunge of 6% as brokerages highlighted concerns over rising credit costs. The share price plummeted 8.3% to Rs 1,156 on the BSE.
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#MarketsWithBS | #AxisBank's share price plummeted 8.3% to Rs 1,156 on the #BSE in Thursday’s trade following a shocking #Q1FY25 report. Could this be the right time to buy? Dive into @nikita_vashisht's detailed report #Q1Results #markets #sharemarket https://t.co/4Pvpahxbnb
