ICICI Bank's Net Profit Soars Amidst Market Downturn

ICICI Bank shares rose over 2% following a 15% increase in standalone net profit, reaching Rs 11,792 crore for the December quarter, driven by growth in core income. Despite broader market declines, the bank's total income rose to Rs 48,368 crore from Rs 42,792 crore a year ago.

Shares of ICICI Bank saw an early surge of over 2% on Monday. This follows the private sector lender's report of a 15% rise in standalone net profit for the December quarter, reaching Rs 11,792 crore, bolstered by increased core income.

The company's stock climbed to Rs 1,234.50 on the NSE, with a similar rise to Rs 1,234 per piece on the BSE, even as market sentiment remained bearish. The 30-share BSE Sensex declined by 694.95 points, while the NSE Nifty dropped 227.55 points in morning transactions.

ICICI Bank's quarterly performance highlights a surge in total income to Rs 48,368 crore, up from Rs 42,792 crore the previous year, with interest income escalating to Rs 41,300 crore, as detailed in their regulatory filing.

(With inputs from agencies.)