ICICI Financial institution Q2 outcomes: PAT soars 36% YoY to Rs 10,261 crore, NII grows 24%

MUMBAI – ICICI Financial institution Ltd on Saturday reported a 36% year-on-year (YoY) progress in internet revenue for the quarter ended September to Rs 10,261 crore. Internet curiosity earnings elevated 24% on yr to Rs 18,308 crore.

Complete earnings for the quarter elevated 31% on yr to Rs 40,697 crore.

Provisions within the quarter dropped sharply to Rs 583 crore, from Rs 1,645 crore a yr in the past, and Rs 1,292.4 crore 1 / 4 in the past.

Gross non-performing property ratio as of September finish was 2.48%, decrease than 3.19% a yr in the past, and a pair of.76% 1 / 4 in the past.

Internet non-performing property ratio was 0.43%, decrease than 0.61% a yr in the past, and 0.48% 1 / 4 in the past.

The capital adequacy ratio as of September finish was 16.07%, in comparison with 16.93% a yr in the past, and 16.71% 1 / 4 in the past. Working bills rose to Rs 9,855.3 crore within the quarter, from Rs 8,161.36 crore a yr in the past.

The supply protection ratio on non-performing property was 82.6% as of September 30. The online curiosity margin (NIM) was 4.53% throughout the quarter, greater than 4.31% in the identical interval a yr, however decrease than 4.78% 1 / 4 in the past. NIM was 4.65% for the April-September interval. Non-interest earnings, excluding treasury, elevated by 14% on yr to Rs 5,861 crore. Charge earnings grew by 16.2% on yr to Rs 5,204 crore. Charges from retail, rural, enterprise banking and SME clients constituted about 78% of the entire charges within the September quarter. The financial institution incurred a treasury lack of Rs 85 crore within the quarter, which was much like the identical interval final yr.

Home mortgage portfolio grew by 19.3% on yr to Rs 10.74 lakh crore as of September 30. The online home advances grew by 19.3% on yr and 4.8% sequentially within the quarter. The retail mortgage portfolio grew by 21.4% on yr and 5.5% sequentially, and comprised 54.3% of the entire mortgage portfolio.

On the asset high quality entrance, recoveries and upgrades of NPAs, excluding write-offs and sale, had been Rs 4,571 crore within the quarter, in comparison with Rs 3,511 crore 1 / 4 in the past. The lender has written off gross NPAs amounting to Rs 1,922 crore within the quarter.

On Friday, shares of ICICI Financial institution ended 0.3% down on the Nationwide Inventory Trade at Rs 932.75.

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