ICICI Bank Soars Over 4% On Jump in March Quarter Net Profit

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ICICI Bank Shares: At 9:55 am, the shares were trading at Rs 595, up 4.4 per cent, on the BSE

Highlights

  • ICICI Bank shares soared over 4 per cent to top the gainer’s list on BSE
  • ICICI Bank’s standalone profit grew 260.5 per cent YoY in March quarter
  • ICICI Bank’s net interest income grew 17 per cent to Rs 10,431 crore

ICICI Bank shares soared more than 4 per cent to top the gainer’s list on the BSE after the private sector bank reported a 260.5 per cent year-on-year (YoY) growth in standalone profit at Rs 4,402.61 crore for quarter ended March 2021. The profit in the corresponding period last year stood at Rs 1,221.4 crore. At 9:55 am, the shares of ICICI Bank were trading at Rs 595, up 4.4 per cent, on the BSE.

The country’s leading private sector lender reported a growth of 17 per cent in net interest income to Rs 10,431 crore during the quarter.

ICICI Bank’s core operating profit – the profit before provisions and taxes, grew 20 per cent year-on-year to Rs 8,565 crore in the fourth quarter of the financial year 2020-21, compared to Rs 7,148 crore in the year-ago period.

The private sector bank’s net interest income (NII) – or the difference between interest earned and interest paid, in the fourth quarter grew 17 per cent on year to Rs 10,431 crore, compared to Rs 8,927 crore in the year-ago period.

The BSE Sensex was trading at 48,585.55, higher by 723.05 points or 1.650 per cent and the NSE Nifty was at 14,536.60, up 195.15 points or 0.35 per cent at the time.



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