ICICI Bank's scrip today rose by 2 per cent after the company reported a 11.5 per cent jump in consolidated net profit for the second quarter ended September.
Shares of the country's largest private sector lender gained 2.04 per cent to settle at Rs 277 on BSE. Intra-day, it climbed 3 per cent to Rs 279.60.
At NSE, shares of the company rose by 2 per cent to end at Rs 277.
The market valuation of the bank climbed by Rs 3,230.33 crore to Rs 1,60,879.33 crore.
In terms of volume, 19.86 lakh shares of the company changed hands at BSE and over two crore shares were traded at NSE during the day.
"ICICI Bank reported a decent set of number for Q2 FY16 results which was in-line with our expectations," said Vaibhav Agrawal, VP Research - Banking, Angel Broking.
ICICI Bank today reported a 11.5 per cent jump in consolidated net profit at Rs 3,418.53 crore for the second quarter ended September 30.
The bank's net profit in July-September quarter of the previous fiscal was Rs 3,064.62 crore.
Total income during the second quarter increased to Rs 25,137.61 crore, up 13.5 per cent as against Rs 22,150.39 crore earned by the bank in the same period of earlier fiscal, it said in a regulatory filing.
On standalone basis, the net profit of the bank rose by 11.9 per cent to Rs 3,030.11 crore, from Rs 2,709.01 crore in the year ago period.
Income (standalone) during the second quarter increased to Rs 16,106.22 crore compared with Rs 14,888.95 crore in the same quarter of 2014-15.
On asset quality, bank's bad loans rose a tad with gross non-performing assets (NPAs) standing at 3.77 per cent of gross advances as of September 30, as against 3.12 per cent in the year ago period.
Likewise, net NPAs were at 1.65 per cent of net advances compared with 1.09 per cent in the previous fiscal.
ICICI Bank also said it plans to sell additional 9 per cent stake in its general insurance arm for about Rs 1,550 crore to Prem Watsa-run Fairfax Financial Holdings of Canada.
