ICICI Bank up 2 pc on BSE | business | Hindustan Times
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ICICI Bank up 2 pc on BSE

business Updated: Jul 27, 2009 12:50 IST

Country’s largest private sector lender ICICI Bank on Monday jumped 2.34 per cent on the Bombay Stock Exchange (BSE) after the bank reported a 20.63 per cent growth in standalone net profit at Rs 878.22 crore for the first quarter ended June 30.

Shares of ICICI Bank surged 2.34 per cent to a high of Rs 784.80 on the BSE. A similar move was seen on the National Stock Exchange (NSE) where the stock jumped to a high of Rs 782, up 1.88 per cent from previous close.

On Saturday, the bank reported a 20.63 per cent growth in its standalone net profit at Rs 878.22 crore for the first quarter. The bank had a net profit of Rs 728.01 crore in the June quarter last fiscal.

Meanwhile, interest income during the quarter fell 9.61 per cent to Rs 7,133.44 crore, from Rs 7,891.80 crore in the same period last fiscal.

Interest expenditure also dipped to Rs 5,148.18 crore during June quarter, down 11.27 per cent from Rs 5,802.05 crore in the corresponding period a year ago.

On a consolidated basis, the bank’s profit after tax increased 68 per cent to Rs 1,035 crore, from Rs 617 crore in the year-ago period.

Current and savings account (CASA) ratio increased to 3O.4 per cent this quarter from 27.6 per cent at the end of Q1 FY’09.