One of the largest private sector banks in India got richer by Rs 26445 crore on Monday after it posted a 14.5 per cent growth in standalone profit at Rs 11,746 crore in the second quarter ended September 2024. It was ICICI Bank, whose shares climbed over 3 per cent on October 28 after the earnings announcement. The company's market valuation soared Rs 26,445.04 crore to Rs 9,11,095.63 crore.
The stock jumped 2.96 per cent to settle at Rs 1,292.65 on the BSE. During the day, it surged 4.16 per cent Rs 1,307.80. At the NSE, it climbed 3.10 per cent to Rs 1,294.40. The stock emerged as the biggest winner among Sensex firms.
The private sector lender had earned a net profit of Rs 10,261 crore in the September quarter of the previous financial year. The BSE Sensex jumped 602.75 points or 0.76 per cent to settle at 80,005.04 and the NSE Nifty surged 158.35 points or 0.65 per cent to 24,339.15.
The total income increased to Rs 47,714 crore during the quarter under review, as against Rs 40,697 crore in the same quarter last year, ICICI Bank said in a regulatory filing. The bank reported an interest income of Rs 40,537 crore during the quarter compared to Rs 34,920 crore in the year-ago period. The net interest income (NII) improved by 9.5 per cent to Rs 20,048 crore from Rs 18,308 crore in the second quarter of the previous year.
On the asset quality front, the bank witnessed improvement with gross non-performing assets (NPAs) declining to 1.97 per cent of the gross loans by the end of September 2024, as against 2.48 per cent a year ago.
(Except for the headline, this story has not been edited by DNA staff and is published from PTI)
