India, July 21 -- Shares of Axis Bank ended over 5 per cent lower on Monday, wiping out Rs 22,638.33 crore from its market valuation, as the company's June quarter numbers failed to cheer investors.

The stock tanked 5.48 per cent to settle at Rs 1,256.10 on the BSE. Intraday, it tumbled 6 per cent to Rs 1,249.05.

At the NSE, the stock declined 5.45 per cent to end at Rs 1,256. The company's market valuation eroded by Rs 22,638.33 crore to Rs 3,90,768.52 crore.

Axis Bank on Saturday reported a 22.23 per cent jump in consolidated profit for the June quarter at Rs 7,632.31 crore, helped by a narrowing of provisions.

On a standalone basis, the third-largest private sector lender's net profit jumped 23 per cent to Rs 7,114 crore.

Its core...