Axis Bank, private sector bank in India, witnessed a fall in share price on Thursday after the bank raised its provision for contingencies by 2.20 times or Rs 25.81 billion in the current period from Rs 11.68 billion in the same period last year.

However, the bank reported a fall of 43.13% in net profit on year-on-year basis to Rs 12.25 billion for the quarter ended Mar. 31, 2017, compared with Rs 21.54 billion, a year ago as the private sector lender raised provisions for bad loans.

The bank's Net Interest Income (NII) grew 4% YOY to Rs 47.29 billion during Q4FY17 from Rs 45.53 billion in Q4FY16.

Shares of Axis Bank are trading at Rs 511.85, down Rs 5.45, or 1.05% at the Bombay Stock Exchange (BSE) on Thursday at 11:15 a.m.

The scrip has touched an intra-day high of Rs 525 and low of Rs 503.60. The total volume of shares traded at the BSE is 763,804.

Total volume of shares traded on the bourses today was lower by 91.62% to 763,804 compared with 22-day average volume of 9,115,100.