ICICI Bank Q3 net up 13% at Rs 2,532 crore

Business

oi-Staff

By Super

Published: Wednesday, January 29, 2014, 15:38 [IST]

Mumbai: ICICI Bank Wednesday reported a 13 percent rise in standalone net profit at Rs 2,532 crore for the third quarter ended December 2013.

The bank had posted net profit of Rs 2,250 crore in the same quarter of 2012-13. On a consolidated basis, the bank's net profit rose 8.6 percent year-on-year to Rs 2,872.3 crore from Rs 2,645 crore during the period.

The lender's total income on standalone basis in Q3 2013-14 increased to Rs 14,255.96 crore, from Rs 12,352.91 crore in the year-ago period, ICICI Bank said in a statement.

Its operating profit in Q3 rose by 29 percent to Rs 4,439 crore, as against Rs 3,453 crore in the year-ago period.

As of December 31, the bank's portfolio quality improved, with gross NPAs rising to 3.05 percent of gross advances, as against 3.31 percent year a year ago.

However, its net NPAs during the third quarter rose to 0.94 percent, from 0.76 percent in the period a year earlier.

During the three quarters (April-December) of 2013-14, the bank's net profit on standaone basis rose by 19 percent to Rs 7,158.47 crore, as against Rs 6,021.40 crore in same period of 2012-13.

Its total income rose to Rs 40,140.68 crore in the nine months, from Rs 35,847.78 crore in the year-ago period.

PTI