Stock In Focus On Monday, ICICI Bank Reports Strong Profits

ICICI-Stock-focus

ICICI Bank today (Saturday, 25 January) posted a more than 158 percent increase in net profit at Rs.4146-Cr for the December ended quarter (Q3FY2020).

In comparison, the private lender had posted a profit of Rs.1605-cr in the year-ago period.

During the quarter, as reported by the bank, its asset quality improved with a 36-pc decrease in net non-performing assets to Rs.10,389-Cr from Rs.16,252-Cr on 31-December 2018. Gross additions to net non-performing assets were Rs.4363-Cr in the Q3 of 2019-20.

The net Non-Performing Assets ratio declined from 2.58-pc to 1.49-pc, Y-o-Y. Provisions, excluding taxes, slipped by 51-pc, Y-o-Y to Rs.2083 crore on 31 Dec 2019.

Net-interest income rose by 24-pc to Rs.8545-cr in the December-ended quarter from Rs.6875-Cr in the same period of the previous year. Get more updated stock Tips and Free stock market updates from here.

On Friday, shares of ICICI Bank closed at Rs535.45-apiece, up by 1.47-pc or Rs.7.75 from the previous closing of Rs.527.70

Investors’ reaction to ICICI Bank stock will be watched at the beginning of trading on Monday next week, as the results are reported today when the market off.

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