ICICI Bank gains after declaring Q1 result

ICICI Bank rose 3.84% to Rs 304.55 at 12:55 IST on BSE after the bank declared Q1 result after market hours on Friday, 27 July 2018.

Meanwhile, the S&P BSE Sensex was up 88.32 points, or 0.24% to 37,425.17

On the BSE, 19.33 lakh shares were traded in the counter so far compared with average daily volumes of 12.85 lakh shares in the past two weeks. The stock had hit a high of Rs 306.05 and a low of Rs 294.50 so far during the day. The stock hit a record high of Rs 365.65 on 29 January 2018. The stock hit a 52-week low of Rs 256 on 24 October 2017.

ICICI Bank reported net loss to Rs 119.55 crore in Q1 June 2018 as compared to net profit of Rs 2049 crore in Q1 June 2017. Total income rose 10.25% to Rs 18574.17 crore in Q1 June 2018 over Q1 June 2017.

The core operating profit (profit before provisions and tax, excluding treasury income) grew by 17% year-on-year to Rs 5042 crore in Q1 June 2018 over Q1 June 2017.

Net interest income was Rs 6102 crore Q1 June 2018 compared to Rs 5590 crore in Q1 June 2017. Overall net interest margin was 3.19% in Q1 June 2018 compared to 3.23% in Q1 June 2017. The net NPA ratio decreased from 4.77% at 31 March 2018 to 4.19% at 30 June 2018.

The bank's total capital adequacy at 30 June 2018 as per Reserve Bank of India's guidelines on Basel III norms was 18.35% and Tier-1 capital adequacy was 15.84% compared to the regulatory requirements of 11.03% and 9.03% respectively.

ICICI Bank is one of the leading private sector banks in India. The bank had a network of 4,867 branches and 14,394 ATMs at 30 June 2018.

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