ICICI Bank shares jump nearly 5 per cent post Q1 results

New Delhi: Shares of ICICI Bank on Monday jumped nearly 5 per cent after the company reported a standalone net profit of Rs 1,908 crore for the first quarter ended June 30.

The scrip gained 4.62 per cent to Rs 434.70 on the BSE.

At the NSE, shares went up by 4.71 per cent to Rs 435.35.

The bank had posted a net loss of Rs 120 crore in the same quarter a year ago.

Total income on standalone basis in the reported quarter rose to Rs 21,405.50 crore from Rs 18,574.17 crore a year earlier, the bank had said in a regulatory filing on Saturday.

The lender witnessed an improvement in asset quality as gross non-performing assets (NPAs) fell to 6.49 per cent of the gross advances by the end of June 2019, from 8.81 per cent a year ago.

Net NPAs were 1.77 per cent, down from 4.19 per cent a year ago.