ICICI Bank m-cap exceeds ₹8 lakh crore; fifth Indian listed entity to cross the mark
Upstox
2 min read • Updated: April 29, 2024, 4:42 PM
Summary
ICICI Bank showed a 17.4% growth in its standalone 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 market capitalisation of ICICI Bank on Monday crossed ₹8,00,000 crore after the private lender's March quarter consolidated net profit rose by 18.5% to ₹11,672 crore.
On the NSE, the stock closed with 4.38% gains at ₹1,156. On the BSE, it climbed 4.6% to end at ₹1158. The total m-cap of the private lender increased to ₹8,12,347 crore each.
On a standalone basis, the second largest private sector lender in India showed a 17.4% growth in its profit after tax (PAT) at ₹10,708 crore for the reporting quarter against ₹9,122 crore in the same quarter of the previous year.
For FY24, its standalone net profit grew to ₹40,888 crore from ₹31,896 crore a year ago.
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The core net interest income increased 8.1% to ₹19,093 crore in the reporting quarter on a 16.8% growth in loans. However, it was restricted by a compression in net interest margin to 4.40% from 4.90% in the year-ago period.
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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% from 2.30% in December 2023.
With PTI inputs