Latest News
-
Emmforce Autotech IPO Debut April 23: Issue Size, Price Band, Check Details? -
1:5 Stock Split: PSU Bank Fixes Record Date For First Ever Stock Split; Buy For Rs 650-680 Targets -
Closing Bell: Market Stages Smart Recovery, Sensex & Nifty Snap 4-Day Losing Streak Led By HDFC Bank -
Hindustan Zinc's Quarterly Profits Dive 21% Amid Global Metal Price Slump, Shares Plummet; Buy Or Not? -
IRFC, RVNL, IRCTC, Railtel: Railway Stocks In Focus As Election Polls Begin; Mega Rs 10-12 Lakh Crore Plan -
Rs 14/Share Dividend: Stockbroking Co To Consider Bonus Share, Shares Up 126% In 180-Days -
Varyaa Creations IPO Set To Shine: Boasts Robust GMP Of Rs 100 -
BEL, HAL, Cochin, Mazagon Dock: Why Defence Stocks Are Flying High When Middle East Is In Kaboom? -
FII-Backed Penny Stock Issues New Update On Warrants, Shares Gain 111% In 3-Yrs -
Top 5 Bank Savings Accounts With No Hidden Charges; Check Details?
ICICI Bank Shares Gain 6% After Reporting 260% Jump In Q4 Net Profit
Shares of ICICI Bank in Monday's trade (April 26,2021) surged as much as 6 percent to day's high of Rs. 605.5 per share on the NSE. Also, Nifty Private bank index was the outlier in trade, gaining 2 percent.
On Saturday, the private sector lender reported a net profit of Rs. 4403 crore in the March quarter of FY21, up 260 percent YoY. This was in comparison to bank's net profit of Rs. 1221 crore during the same period of last year.
On a sequential basis, however the profit came in lower by around 11 percent. In the reporting quarter, the bank decided to provide for Rs. 1000 crore as additional Covid 19 provisioning. Also, the treasury income has come in lower in comparison to last quarter's.
There has been an increase in NII by 17 percent YoY in the reporting period, while NIM has also surged to 3.84% during the period in comparison to 3.67 percent in Q3Fy21.
Further in respect of the SC verdict where the banks have been asked to refund interest on interest charged to all borrower during the moratorium period, the bank has also lessened Rs. 175 crore from the interest income during the reporting quarter.
On the asset quality front, the GNPA stood at 4.96 percent as at the end of March quarter. During the quarter, the gross NPA additions, excluding borrowers in the proforma NPAs as of December 31, 2020, were Rs 5,523 crore. The net NPA ratio of the lender declined to 1.14 per cent in the March quarter from 1.26 per cent (on a proforma basis on December 31, 2020) and 1.41 per cent on March 31, 2020.
GoodReturns.in
