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ICICI Bank reports Q2 standalone net profit at Rs 3102 crores, up 2.4 per cent

ICICI Bank Reported A Standalone Net Profit Of Rs 3,102 For The Second Quarter, A Marginal Increase Of 2.4 Per Cent On A Year-on-year Basis.

PTI | Updated on: 08 Nov 2016, 01:50:10 PM
ICICI bank  - File Photo

New Delhi:

Indian banking major ICICI bank reported a standalone net profit of Rs 3,102 for the second quarter, a marginal increase of 2.4% on a year-on- year basis. 

Shares of ICICI Bank rose by over 3 per cent after the company reported the second quarter earnings on expected lines.The stock gained 3.1 per cent to Rs 287.40 on BSE.

At NSE, it rose by 3.13 per cent to Rs 287.45. Even as bad assets continued to drag its performance, a Rs 5,682 crore gain from stake sale in its life insurance arm helped the ICICI Bank to limit its profit slip to 12.85 per cent at Rs 2,978.95 crore for the September quarter.

Indian banking major ICICI  bank reported a net profit of Rs 3,419 crore for the July-September quarter of the last fiscal year. Despite the massive rise in provisions and fresh slippages, analysts described the overall numbers as on expected lines.

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First Published : 08 Nov 2016, 01:29:00 PM

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