(20 second reading) Shares of ICICI Bank rose nearly 5 % after the company reported an 18.5 percent rise in Q4 consolidated net profit to Rs 11,672 crore.
On a standalone basis, the second-largest private sector lender reported a 17.4 percent rise in its profit after tax to Rs 10,708 crore in the quarter under review, from Rs 9,122 crore in the year-ago period.
For fiscal 2023-24, its standalone net profit rose to Rs 40,888 crore from Rs 31,896 crore a year ago.
Core net interest income increased by 8.1 per cent to Rs 19,093 crore in the quarter under review driven by 16.8 per cent growth in loans. However, it was narrowed to 4.40 percent from 4.90 percent in the year-ago period due to a decline in net interest margin.