ICICI Bank shares climb nearly 5 pc after Q4 earnings; mcap soars by ₹36,555.4 crore - Hindustan Times
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ICICI Bank shares climb nearly 5 pc after Q4 earnings; mcap soars by 36,555.4 crore

PTI |
Apr 29, 2024 04:43 PM IST

ICICI Bank shares climb nearly 5 pc after Q4 earnings; mcap soars by ₹36,555.4 crore

New Delhi, Shares of ICICI Bank on Monday climbed nearly 5 per cent after the company's March quarter consolidated net profit grew 18.5 per cent to 11,672 crore, helped by lower provisions.

ICICI Bank shares climb nearly 5 pc after Q4 earnings; mcap soars by <span class='webrupee'>₹</span>36,555.4 crore
ICICI Bank shares climb nearly 5 pc after Q4 earnings; mcap soars by 36,555.4 crore

The stock advanced 4.67 per cent to settle at 1,158.80 on the BSE. During the day, it jumped 5 per cent the 52-week high of 1,163.25.

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On the NSE, it climbed 4.37 per cent to 1,156.40. During the day, the stock rallied 5 per cent hitting the 52-week high of 1,163.45.

The company's market capitalisation soared 36,555.4 crore to 8,14,033.29 crore.

It emerged as the biggest gainer on both the BSE Sensex and NSE Nifty.

In traded volume terms, 8.05 lakh shares of the company were traded at the BSE during the day and over 285.78 lakh shares at the NSE during the day.

In the equity market, the 30-share BSE Sensex rallied 941.12 points or 1.28 per cent to settle at 74,671.28 and the NSE Nifty went up 223.45 points or 1 per cent to 22,643.40.

On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at 10,708 crore for the reporting quarter against 9,122 crore in the year-ago period.

For fiscal 2023-24, its standalone net profit grew to 40,888 crore from 31,896 crore a year ago.

The core net interest income increased 8.1 per cent to 19,093 crore in the reporting quarter on a 16.8 per cent growth in loans. However, it was restricted by a compression in net interest margin to 4.40 per cent from 4.90 per cent in the year-ago period.

The provisions more than halved to 718 crore for the reporting quarter, as per an exchange filing by the lender on Saturday.

The gross non-performing assets ratio improved to 2.16 per cent from 2.30 per cent in December 2023.

This article was generated from an automated news agency feed without modifications to text.

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