ICICI Bank shares pare early gains, settle 1 pc down

At the same time, net interest income NII increased by 23 per cent year-on-year to Rs 12,236 crore from Rs 9,912 crore in the same quarter in the previous financial year, it said.The bank reported an improvement in gross non-performing assets NPAs ratio at 4.13 per cent from 4.38 per cent at the end of the third quarter of the previous year.The net NPA ratio was at 0.85 per cent in the third quarter of the current fiscal against 0.63 per cent in the third quarter of FY21.

Shares of ICICI Bank on Monday pared early gains and settled lower by more than 1 per cent amid profit-taking in-tandem with weak broader market trends.

During the early trade, the stock had gained nearly 2 per cent after the firm reported an 18.8 per cent jump in its December quarter consolidated net profit.

At the National Stock Exchange, it declined 1.55 per cent to settle at Rs 792 after jumping 1.51 per cent during the day to Rs 816.70.

The stock, which jumped 1.76 per cent to Rs 818.80 during the day on the BSE, later pared gains and settled at Rs 798.20, lower by 0.80 per cent.

In traded volume terms, 11.91 lakh shares were traded at the BSE and over 2.96 crore shares at the NSE during the day.

The 30-share BSE benchmark plunged 1,545.67 points or 2.62 per cent to settle at 57,491.51. ICICI Bank on Saturday reported an 18.8 per cent jump in its December quarter consolidated net profit to Rs 6,536.55 crore, aided by growth in interest income and decline in provisions.

The country's second-largest private sector lender by assets had posted a consolidated net profit of Rs 5,498.15 crore in the same quarter of the previous fiscal.

However, total income was lower at Rs 39,865.80 crore in the third quarter this fiscal compared to Rs 40,419.08 crore in the same quarter a year ago, according to a regulatory filing.

On a standalone basis, the bank recorded a 25 per cent rise in the post-tax profit to Rs 6,194 crore for the quarter, up from Rs 4,939.59 crore in the October-December 2020. Total income on a standalone basis increased to Rs 27,069.67 crore from Rs 24,416 crore in the year-ago period. At the same time, net interest income (NII) increased by 23 per cent year-on-year to Rs 12,236 crore from Rs 9,912 crore in the same quarter in the previous financial year, it said.

The bank reported an improvement in gross non-performing assets (NPAs) ratio at 4.13 per cent from 4.38 per cent at the end of the third quarter of the previous year.

The net NPA ratio was at 0.85 per cent in the third quarter of the current fiscal against 0.63 per cent in the third quarter of FY21.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)