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ICICI Bank dips over 5% post Q3 results

ICICI Bank has dipped nearly 6% to Rs 358 on National Stock Exchange (NSE) after the bank said that its net non performing assets (NPA) for the quarter ended December 31, 2014 (Q3) stood at 1.27% against 1.09% in September quarter. The gross NPA was at 3.40% as against 3.12% a quarter ago.

The country’s biggest private lender has recorded a 14% increase in net profit at Rs 2,889 crore in the third quarter ending December 2014. It was Rs 2,532 crore in the same period a year ago.

Net interest income (interest earned minus interest expended) grew 13% at Rs 4,811 crore against Rs 4,254 crore in the corresponding quarter of previous year.

The bank’s provisioning for bad loans increased by 41% at Rs 980 crore against Rs 695 crore in year ago quarter.

The stock opened at Rs 381 and touched a low of Rs 355 on NSE. A combined 24.32 million shares changed hands on the counter till 1445 hours on NSE and BSE.


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