Business Standard

ICICI Bank shares gain over 3 pc; m-cap zooms Rs 8,926 cr post Q1 results

Image

Press Trust of India New Delhi
Shares of ICICI Bank jumped over 3 per cent on Monday after the company reported a standalone net profit of Rs 1,908 crore for the June quarter.
The scrip went up 3.32 per cent to close at Rs 429.30 on the BSE. During the day, it gained 4.62 per cent to Rs 434.70.
On the NSE, shares climbed 2.89 per cent to close at Rs 427.80.
The company's market valuation jumped Rs 8,925.64 crore to Rs 2,77,030.64 crore on the BSE.
The scrip was the top gainer among the frontline companies on both the key indices.
In traded volume, 35.34 lakh shares were traded on the BSE and over four crore shares on the NSE.
The bank had posted a net loss of Rs 120 crore in the year-ago quarter.
Total income on standalone basis in the reported quarter rose to Rs 21,405.50 crore from Rs 18,574.17 crore a year earlier, the bank had said in a regulatory filing on Saturday.
The lender witnessed an improvement in asset quality as gross non-performing assets (NPAs) fell to 6.49 per cent of the gross advances by the end of June 2019, from 8.81 per cent a year ago.
Net NPAs were 1.77 per cent, down from 4.19 per cent a year ago.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 29 2019 | 5:50 PM IST

Explore News