ICICI Bank Q1 net profit up by 12% to Rs 2,976 crore | business | Hindustan Times
Today in New Delhi, India
Feb 25, 2017-Saturday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

ICICI Bank Q1 net profit up by 12% to Rs 2,976 crore

business Updated: Jul 31, 2015 13:28 IST
PTI
ICICI bank

ICICI bank reported a 12.08% growth in net profit at Rs 2,976.16 crore for the June quarter of 2015. (HT file photo)

ICICI Bank, the leading private sector lender on Friday reported a 12.08% growth in net profit at Rs 2,976.16 crore for the June quarter of current fiscal.

The bank had a standalone net profit of Rs 2,655.30 crore in the corresponding quarter of last fiscal. The gross non-performing assets (NPAs) as a percentage of total advances of the bank rose to 3.68% during the quarter under review from 3.05% in the same quarter last fiscal, ICICI Bank said in a filing to BSE.

However, the asset quality has improved compared with January-March quarter when the Gross NPA was 3.78%. Total income of the bank rose to Rs 15,802.45 crore in the first quarter of 2015-16, from Rs 14,616.71 crore in the three month period of last fiscal.

On a consolidated basis, ICICI Bank registered a 14% increase in profit after tax to Rs 3,232 crore for the quarter ended June 30, from Rs 2,832 crore for the quarter ended June 30, 2014.

During the quarter, the bank saw 14% year-on-year growth in savings account deposits, and 25% growth in retail advances. Net interest margin during the quarter improved to 3.54% from 3.40% in the first quarter of last fiscal.

The bank made a provisioning of Rs 956 crore in first quarter of current fiscal compared with Rs 726 crore in Q1 of last fiscal. Post result, shares of ICICI Bank were trading at Rs 308.90, up 6.16% on BSE.