Shares of Axis Bank were trading 1% lower on 12 December after 3.1 crore shares of the bank changed hands on the exchange via a block deal.

Around 3.1 crore shares changed hands for an average price of Rs 1,120 per share, taking the total transaction worth Rs 3,465 crore.

The buyers and sellers involved in this deal are yet to be identified.

In its quarterly report for July-September, the lender reported a 10% year-on-year increase in net profit to Rs 5,864 crore during the quarter, while its net interest income increased by 19% YoY.

The asset quarter of the bank has also improved, with the gross non-performing asset ratio falling to 1.73% during the quarter from 1.96% reported in the same quarter last year, whereas the net non-performing asset dropped to 0.3% for the quarter from 0.41% reported in the same quarter during the previous fiscal year.

The operating profit during the quarter stood at Rs 8,632 crore, marking a 12% YoY increase from Q2FY23.

At 3:24 pm, the shares of Axis Bank were trading 1.42% lower at Rs 1,114.95 on NSE.