ICICI Bank's share price hopped 1.89 per cent to Rs 761.50 on the BSE
ICICI Bank's share price gained almost 2 per cent after the business reported a 59 per cent hop in standalone net returns for the fourth quarter of 2021-22. On Saturday, the private sector lender registered a 59 per cent jump in standalone net profit to Rs 7,019 crore for the fourth quarter of 2021-22.
ICICI Bank's stake price bounced 1.89 per cent to Rs 761.50 on the BSE. On the NSE, it moved up by 1.83 per cent to Rs 761.35. The bank had made Rs 4,403 crore in the corresponding January-March period of the last year. In a regulatory filing, the bank's total revenue rose to Rs 27,412 crore in January-March from Rs 23,953 crore in the year-ago quarter, ICICI Bank declared in a regulatory filing.
Net interest income (NII) grew 21 per cent to Rs 12,605 crore from Rs 10,431 crore in the same quarter a year ago. On a consolidated basis, ICICI Bank Group's net profit jumped 58 per cent to Rs 7,719 crore in the March quarter from Rs 4,886 crore in the year-ago period.
The bank's asset rate improved as gross non-performing investments dropped to 3.60 per cent of gross advancements as of March 31, 2022, from 4.96 per cent in the corresponding duration a year ago. Net NPAs also reduced to 0.76 per cent from 1.14 per cent at the end of the fourth quarter of the prior fiscal year.