ICICI Bank Shares Jump Nearly 2 per cent Post Earnings Announcement

New Delhi, Jan 24 (PTI) Shares of ICICI Bank on Monday gained nearly 2 per cent after the firm reported an 18.8 per cent jump in its December quarter consolidated net profit. The stock jumped 1.76 per cent to Rs 818.80 on the BSE. At the NSE, it gained 1.51 per cent to Rs 816.70.

ICICI Bank on Saturday reported an 18.8 per cent jump in its December quarter consolidated net profit to Rs 6,536.55 crore, aided by growth in interest income and decline in provisions. The country's second-largest private sector lender by assets had posted a consolidated net profit of Rs 5,498.15 crore in the same quarter of the previous fiscal. However, total income was lower at Rs 39,865.80 crore in the third quarter this fiscal compared to Rs 40,419.08 crore in the same quarter a year ago, according to a regulatory filing.

On a standalone basis, the bank recorded a 25 per cent rise in the post-tax profit to Rs 6,194 crore for the quarter, up from Rs 4,939.59 crore in the October-December 2020.  Total income on a standalone basis increased to Rs 27,069.67 crore from Rs 24,416 crore in the year-ago period. 
At the same time, net interest income (NII) increased by 23 per cent year-on-year to Rs 12,236 crore from Rs 9,912 crore in the same quarter in the previous financial year, it said. The bank reported an improvement in gross non-performing assets (NPAs) ratio at 4.13 per cent from 4.38 per cent at the end of the third quarter of the previous year. The net NPA ratio was at 0.85 per cent in the third quarter of the current fiscal against 0.63 per cent in the third quarter of FY21.