ICICI Bank gains after announcing Q2 results

ICICI Bank gained 2.44% to Rs 285.55 at 9:30 IST on BSE after net profit rose 2.38% to Rs 3102.27 crore on 41.31% rise in total income to Rs 22759.08 crore in Q2 September 2016 over Q2 September 2015.

The result was announced after market hours yesterday, 7 November 2016.

Meanwhile, the BSE Sensex was up 64.38 points, or 0.26%, to 27,529.80.

On BSE, so far 2.77 lakh shares were traded in the counter, compared with average daily volume of 14.84 lakh shares in the past one quarter. The stock hit a high of Rs 287.40 and a low of Rs 281.60 so far during the day.

The large-cap private sector bank has equity capital of Rs 1163.83 crore. Face value per share is Rs 2.

ICICI Bank's gross non-performing assets (NPAs) rose to Rs 32178.60 crore as on 30 September 2016 as against Rs 27193.58 crore as on 30 June 2016 and Rs 15857.82 crore as on 30 September 2015. The ratio of gross NPAs to gross advances rose to 6.82% as on 30 September 2016 as against 5.87% as on 30 June 2016 and 3.77% as on 30 September 2015.

The ratio of net NPAs to net advances increased to 3.57% as on 30 September 2016 as against 3.35% as on 30 June 2016 and 1.65% as on 30 September 2015. The bank's provisions and contingencies (excluding tax provisions) jumped 651.75% to Rs 7082.69 crore in Q2 September 2016 over Q2 September 2015.

ICICI Bank's other income in Q2 September 2016 includes gains of Rs 5682 crore relating to sale of 12.63% stake of the bank in the initial public offer of ICICI Prudential Life Insurance Company, which completed its IPO recently. ICICI Bank's net interest income rose 0.04% to Rs 5253 crore in Q2 September 2016 over Q2 September 2015.

ICICI Bank is one of the leading private sector banks in India.

Powered by Capital Market - Live News