ICICI Bank, India's largest private sector bank, witnessed a sharp rise in share price on Friday after it reported 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.

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.

Shares of bank are trading at Rs 306.45, up Rs 15.5, or 5.33% at the Bombay Stock Exchange (BSE) on Friday at 12:37 p.m. The scrip has touched an intra-day high of Rs 308.90 and low of Rs 293.60. Total volume of shares traded on the bourses today was higher by 426.76% to 17,122,881 compared with 22-day average volume of 3,250,598.