ICICI Bank shares climb over 1% on strong Q2 numbers

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ICICI Bank shares climb over 1% on strong Q2 numbers
Shares of ICICI Bank on Monday climbed over 1% after the company reported a 36.08% jump in its consolidated net profit for the September quarter. The stock gained 1.32% to Rs 944.80 on the BSE. It climbed 1.29% to Rs 944.80 on the NSE.
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ICICI Bank on Saturday reported a 36.08% jump in its net profit at Rs 10,896.13 crore for the September quarter, helped by a sharp decline in provisions and growth in core income.

The second-largest private sector lender's standalone net grew to Rs 10,261 crore from Rs 7,557.84 crore in the year-ago period and Rs 9,648.20 crore in the preceding June quarter.

The total standalone income rose to Rs 40,697 crore in the second quarter of the current fiscal from Rs 31,088 crore in the same period a year ago, according to a filing.

Its core net interest income grew 23.8% to Rs 18,308 crore on the back of a 19.3% expansion in domestic loans and a widening of the net interest margin to 4.53% as against the year-ago period's 4.31%.

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On the asset quality front, its gross non-performing assets ratio improved to 2.48% from 3.19% in the year-ago period and 2.78% in the preceding June quarter.
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