ICICI Bank, the second largest private sector lender, reported on Friday a 11.67% rise in standalone net profit for the quarter ended Jun. 30, 2015. The bank has earned Rs. 29.76 billion compared with Rs. 26.65 billion for the same period last year. Analysts were expecting a profit of Rs 29.19 billion for the quarter.
Consolidated quarterly profit increased 14.14% to Rs 32.32 billion from Rs 28.32 billion in the same period last year.
Standalone total revenues during the quarter grew 8.11% to Rs. 158.02 billion from Rs. 146.16 billion in the previous year period.
Net interest income increased 14% to Rs 51.15 billion in the first quarter of 2015-16 from Rs 44.92 billion in the same quarter last year.
Meanwhile, non-interest income increased by 5% to Rs 29.90 billion the first quarter of 2015-16 from Rs 28.50 billion in the same quarter last year.
The cost-to-income ratio was at 37.8% in the first quarter of 2015-16 compared to 38.4% in the same quarter last year.
Provisions were at Rs 9.56 billion in the first quarter of 2015-16 compared to Rs 13.44 billion in the previous quarter and Rs 7.26 billion in the same quarter last year.
Total advances increased by 15% year-on-year to Rs 3997.38 billion at Jun. 30, 2015 from Rs 3470.67 billion at Jun. 30, 2014.
The bank has seen healthy trends in CASA deposit mobilisation. The bank's savings account deposits grew by 14% year-on-year at Jun. 30, 2015.
Shares of the company gained Rs 16.7, or 5.74%, to trade at Rs 307.65. The total volume of shares traded was 1,197,532 at the BSE (12.28 p.m., Friday).