ICICI Bank Shares Climb Nearly 3 PC After June Quarter Earnings

New Delhi: Shares of ICICI Bank climbed nearly 3 per cent on Monday morning after the company reported a 13.88 per cent jump in June quarter consolidated profit.

The stock went up by 2.63 per cent to Rs 1,479.90 on the BSE.

At the NSE, the stock climbed 2.47 per cent to Rs 1,480.

ICICI Bank on Saturday reported a 13.88 per cent jump in June quarter consolidated profit at Rs 15,440 crore, up from Rs 13,558 crore in the year-ago period on the back of faster credit growth.

In an exchange filing, the second-largest private sector lender said its standalone net profit grew 15.95 per cent to Rs 14,804 crore for the April-June quarter from Rs 12,768 crore in the year-ago period.

The Net Interest Income (NII) increased 12.7 per cent year-on-year to Rs 24,384 crore in the quarter under review, on the back of a nearly 20 per cent jump in advances and a slight widening in the net interest margin to 4.36 per cent.

From an asset quality perspective, the gross non-performing assets ratio improved to 1.38 per cent from 1.67 per cent a year ago and 1.40 per cent at the end of March this year.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)