ICICI Bank shares gain nearly 4% after Q4 earnings; Mcap rises by Rs 14,387 crore

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New Delhi: Shares of ICICI Bank on Monday closed with a gain of nearly 4 per cent after the company reported a nearly four-fold jump in its March quarter consolidated profit.

The stock, which jumped 6.11 per cent to Rs 604.90 during the day on the BSE, closed at Rs 590.75, a gain of 3.63 per cent.

On the NSE, shares of the company closed at Rs 588.70, higher by 3.28 per cent after gaining 6.23 per cent to Rs 605.50 during the day.

Its market valuation jumped Rs 14,387.62 crore to Rs 4,08,633.62 crore on the BSE.

In traded volume terms, 31.04 lakh shares were traded at the BSE and over 6.25 crore units at the NSE during the day.

ICICI Bank on Saturday reported a nearly four-fold jump in its March quarter consolidated profit to Rs 4,886 crore as against Rs 1,251 crore in the year ago period, and spoke of calibrating growth in the near term given the second wave of COVID-19 infections.

The second largest private sector lender, which reported more than three-fold jump in its standalone net at Rs 4,402 crore, said that things will be better in the next two months and exuded confidence of having a strong balance-sheet to deliver consistent returns.

We will calibrate our growth in the near term based on the operating environment and conditions resulting from the second wave of the COVID-19 pandemic, its executive director Sandeep Batra told reporters on a conference call after the announcement of the results.

Income, on a consolidated basis, rose to Rs 43,621 crore in January-March 2021 from Rs 40,121 crore in the year-ago quarter.

The bank’s core net interest income increased 17 per cent to Rs 10,431 crore on an 18 per cent growth in domestic advances and a marginal decline in net interest margin to 3.84 per cent from the year ago’s 3.87 per cent. 

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