ICICI's third quarter net profit up 20.25 percent

ICICI's third quarter net profit up 20.25 percent

India's largest private lender ICICI Bank Tuesday reported a 20.2 percent rise in net profit for the quarter ending December at Rs.1,728.1 crore from Rs.1,437.02 crore in the like period 2010-11.

The private lender said in a regulatory filing that its total income in the period under review rose by 24.14 percent at Rs.10,483.73 crore from Rs.8,444.75 crore in the quarter ended Dec 31, 2010.

The bank's interest income in the quarter ended Dec 31, 2011 rose by 28.31 percent at Rs.8,591.87 crore from Rs.6,695.96 crore in the like period of 2010-11.

The other income of the private lender in the last quarter increased by 8.81 percent at Rs. 1,891.86 crore from Rs.1,748.79 crore in the corresponding quarter of the last fiscal.

The bank reported a decline in its net non-performing advances (NPA) at 0.83 percent in the quarter under review from 1.39 percent in the corresponding period of last fiscal.

Gross non-performing advances in the quarter ended Dec 31, at 3.82 percent from 4.75 in the like period of 2010-11.

The bank reported an increase of 6.61 percent in its consolidated net profit of Rs. 2174.22 crore for the quarter ended Dec 31, 2011 as compared to Rs.2039.4 crore in the like period of 2010-11.

The total consolidate income increased by 7.01 percent from Rs.16,497.35 crore in the quarter under review from Rs.15,415.85 crore for the quarter ended Dec 31, 2010.

The company's scrip shot up in afternoon trade at the Bombay Stock Exchange (BSE) and was ruling at Rs.897 up 5.29 percent around 2.00 p.m.

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