ICICI Bank advanced 8.91% to Rs 297.05 at 11:21 IST on BSE after net profit jumped 188.5% to Rs 2024.64 crore on 10.8% decline in total income to Rs 16585.76 crore in Q4 March 2017 over Q4 March 2016.
The result was announced after market hours yesterday, 3 May 2017.Meanwhile, the S&P BSE Sensex was up 167.90 points, or 0.56%, to 30,062.70
The stock jumped on high volumes. On the BSE, 97.91 lakh shares were traded in the counter so far, compared with average daily volume of 21.83 lakh shares in the past one quarter. The stock hit a high of Rs 298.50 in intraday trade so far, which is 52-week high for the counter. The stock had hit a low of Rs 283.90 so far during the day. The stock had hit a 52-week low of Rs 213.20 on 6 May 2016.
The large-cap private sector bank has equity capital of Rs 1165.12 crore. Face value per share is Rs 2.
ICICI Bank's net interest income (NII) increased by 10% to Rs 5962 crore in Q4 March 2017 over Q4 March 2016.
The bank's capital adequacy at 31 March 2017 as per Reserve Bank of India's guidelines on Basel III norms was 17.39% and Tier-1 capital adequacy was 14.36% compared to the regulatory requirements of 10.30% and 8.30% respectively.
The bank's gross non-performing assets (NPAs) rose to Rs 42551.54 crore as on 31 March 2017 as against Rs 38084.97 crore as on 31 December 2016 and Rs 26720.93 crore as on 31 March 2016.
The ratio of gross NPAs to gross advances stood at 7.89% as on 31 March 2017 as against 7.2% as on 31 December 2016 and 5.21% as on 31 March 2016. The ratio of net NPAs to net advances stood at 4.89% as on 31 March 2017 as against 3.96% as on 31 December 2016 and 2.67% as on 31 March 2016.
The bank's provisions and contingencies declined 12.9% to Rs 2898.22 crore in Q4 March 2017 over Q4 March 2016.
ICICI Bank's board recommended 1:10 bonus issue of shares i.e. one equity share for every 10 shares held.
ICICI Bank is one of the leading private sector banks in India. The bank had a network of 4,850 branches and 13,882 ATMs as at 31 March 2017.
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