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Axis Bank's robust performance has continued in the first quarter of FY15, with 10% and 18% growth in net income and profit, respectively

Team Outlook Business

Axis Bank, India’s third-largest private lender, has been on a roll on the bourses, with the stock gaining 148% over the past one year. The rally has come on the back of 13% growth in total income and 20% growth in profit for FY14. The robust performance continued in the first quarter of FY15, with 10% and 18% growth in net income and profit, respectively. Making the most of the good peformance, MD and CEO Shikha Sharma sold 80,000 shares at ₹409 on September 2 for ₹3.27 crore, bringing down her holding to 120,000 shares. A week later, she was allotted 80,000 shares at ₹193 on September 9 through the ESOP route for ₹1.54 crore, increasing her total holding to 200,000 shares. At ₹399 a share, her holding is worth around ₹8 crore. The resultant transactions have meant that Sharma took home ₹1.73 crore (pre-tax). If the bank, thanks to its strong capital adequacy ratio, continues with its good performance, the numbers for Sharma, too, will start looking better.

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