ICICI Bank Q2FY19 profit declines 56 per cent, asset quality improves

ICICI Bank reported its results for the quarter ended September 30, 2018 after market hours.

The net interest income (NII) for Q2FY19 came in at Rs. 6418 crore as against Rs. 5709 crore as compared to the corresponding quarter last year, an increase of 12.4 per cent. Also, the net interest margin (NIM) stood at 3.33 per cent as against 3.19 per cent for Q2FY18.

The provisions for the quarter stood at Rs. 3994 crore versus Rs. 4503 crore in Q2FY18, a decline of 11.3 per cent.

The standalone net profit for the quarter came in at Rs. 909 crore as against loss of Rs. 120 crore in Q1FY19 and net profit of Rs. 2058 crore in Q2FY18, registering a sharp decline of 56 per cent YoY

The gross additions to NPAs were Rs. 3,117 crore in Q2FY19 versus Rs. 4036 crore in Q2FY18. Also, the net NPA ratio declined from 4.19 per cent in Q2FY18 to 3.65 per cent in Q2FY19. Further, as on September 30, 2018, total capital adequacy ratio (CAR) stood at 17.84 per cent.

Today, the stock opened at Rs. 320.80 and made an intra-day low of Rs. 313.10 and finally closed at Rs. 315.05, on the BSE.