ICICI Bank shares climb 2.53% as Q1 net profit jumps

New Delhi: Shares of ICICI Bank on Monday morning climbed 2.53 per cent after the firm posted a 15.9 per cent jump in its consolidated net profit for the June quarter.

The company's stock rallied 2.48 per cent to Rs 1,462 on the BSE.

At the NSE, it climbed 2.53 per cent to Rs 1,462 apiece.

Buying in the stock also helped the equity markets recover all early lost ground.

The 30-share BSE Sensex traded 316.26 points higher at 82,073.99, and the NSE Nifty quoted 72.70 points up at 25,042.75.

ICICI Bank on Saturday posted a 15.9 per cent jump in its consolidated net profit for the June quarter to Rs 13,558 crore compared to Rs 11,696 crore in the year-ago period.

On a standalone basis, the country's second-largest private sector lender reported a net profit of Rs 12,768 crore for the quarter, up 15.5 per cent from Rs 11,059 crore a year ago.

Its core net interest income increased 10.6 per cent to Rs 21,635 crore on the back of a 12 per cent domestic loan growth, but was restricted by a narrowing of the net interest margin to 4.34 per cent, from 4.41 per cent in the quarter-ago period.

The gross non-performing assets ratio improved to 1.67 per cent as of June 30, from 2.15 per cent in the year-ago period.