New Delhi: ICICI Bank shares on Monday rose more than 1 percent and touched a height of 52 weeks on the Exchange after the June quarter’s net profit was enlarged 52 percent.
Stock rose 1.29 percent to RS 685.40 – 52-week high – on BSE.
In NSE, it rose 1.30 percent to RS 685.45 – height 52 weeks.
Quarter Encici Bank Zoom’s net profit was enlarged 52 percent to RS 4,747.42 Crore, driven by a majority by lower provisions but reported an increase in stress from the retail loan segment.
With a standalone base, the second largest private sector lender with assets posted Rs 4,616.02 crore’s net profit for the reporting quarter, up 77 percent compared to FY21 National Lockown-hit.
Income was announced on Saturday.
Dirty NPA reached 5.15 percent of 4.96 percent in the quarter period and 5.46 percent in the period last year.
Channel provisions see several activities in the reporting quarter, including changes in accounting norms for more conservatives that lead to the additional impact of Rs 1,127 Crore and retreat from RS 1,050 Crore from Covid provisions because the Bank is increasingly convinced of the asset quality situation out of the quarter with the quarter of the crore rs 6,425 , The overall provisions came at Rs 2,852 Crore, almost a third of Rs 7,594 Crore which was set aside for last year’s period even though there was an increase in gross non-performing asset ratio (NPA).