ICICI Bank shares zoom over 14% after file excessive quarterly revenue

Shares of ICICI Bank on Monday jumped over 14 per cent after the corporate reported its highest ever quarterly revenue on standalone foundation at Rs 5,511 crore for September quarter 2021-22.
The inventory zoomed 12.36 per cent to its 52-week excessive of Rs 853 on BSE.
On NSE, it jumped 14.18 per cent to its 52-week excessive of Rs 867.
ICICI Bank on Saturday reported its highest ever quarterly revenue on standalone foundation at Rs 5,511 crore for September quarter 2021-22 on the again of wholesome mortgage progress throughout verticals, aided by fall in unhealthy loans.
The lender logged a standalone web revenue of Rs 4,251 crore within the year-ago interval.
“This would be the highest net profit ever…our capital is growing, the economy is growing. There are no exceptional items during this period because we have not sold anything (from subsidiaries),” Sandeep Batra, Executive Director, ICICI Bank informed reporters throughout a convention name.
Total earnings additionally rose to Rs 26,031 crore in July-September interval of 2021-22, as in opposition to Rs 23,651 crore in the identical quarter of the earlier fiscal yr, ICICI Bank stated in a regulatory submitting.
On a consolidated foundation additionally, the lender posted its highest ever revenue at Rs 6,092 crore within the quarter, as in opposition to Rs 4,882 crore in the identical interval of the earlier fiscal yr.
The financial institution’s asset high quality confirmed enchancment as gross non-performing property (NPAs) fell to 4.82 per cent of gross advances as of September 30, 2021 as in opposition to 5.17 per cent by the year-ago interval.
Net NPAs (unhealthy loans) too fell to 0.99 per cent from 1 per cent. Net NPA has fallen to the bottom degree since December 31, 2014, the financial institution stated.