ICICI Bank jumps more than 6 per cent on positive Q2FY21 results

The shares of ICICI Bank jumped by 6.47 per cent on Monday after the bank announced strong Q2FY21 results and a six-fold jump in the net profit for Q2FY21.

In the last one month, the stock of the company has gained by nearly 10 per cent while on a YTD basis, it is down by around 24 per cent.

On the standalone financial front, the net interest earned by the bank in the second quarter of FY21 came in at Rs 19,622.46 crore as against Rs 18,565.30 crore in the corresponding quarter of the previous fiscal, clocking a growth of 5.69 per cent. The total income in Q2FY21 was Rs 23,650.77 crore, an increase by 3.87 per cent from Rs 22,769.52 crore in Q2FY20. The net profit gained in Q2FY21 jumped significantly to Rs 4,251.33 crore from Rs 654.96 crore gained in Q2FY20. For Q2FY21, the GNPA percentage was 5.17 per cent as compared to 6.37 per cent in Q2FY20. CRAR ratio in Q2FY20 was 18.47 per cent while, in Q2FY19, it was 16.14 per cent.

The bank stated that after easing of lockdown restrictions, a significant MoM increase in disbursements across retail products was witnessed while mortgage disbursements during Q2FY21 crossed the pre-COVID-19 levels and reached an all-time monthly high in September 2020. On the other hand, it has been observed that auto loan disbursements continued to increase in Q2FY21 to touch the pre-COVID-19 levels thus, indicating a rise in passenger car sales.

On Monday, the stock was trading at Rs 408.40, up by 4.04 per cent or Rs 15.85 per share. Its 52-week high is Rs 552.40 and the 52-week low is Rs 269 on BSE.