ICICI Bank's Profit Surge: A 15% Leap in Quarterly Success

ICICI Bank's shares rose over 1% following a 15% increase in standalone net profit, amounting to Rs 11,792 crore for the December quarter. This growth was attributed to a rise in core income. The stock closed higher on BSE and NSE amid varied trading volumes amidst broader market declines.

ICICI Bank shares saw a notable uptick of over 1% on Monday after the bank posted a significant 15% rise in standalone net profit, reaching Rs 11,792 crore for the quarter that ended in December. This impressive growth was primarily driven by an increase in core income.

The bank's scrip gained 1.53% to close at Rs 1,228 on the BSE, and similarly registered a 1.33% gain to end at Rs 1,225.25 on the NSE. The trading session witnessed 1.62 crore shares exchanged on the NSE, while 4.26 lakh shares were traded on the BSE, against the backdrop of a steep decline in the broader markets.

Despite the positive performance of ICICI Bank shares, the BSE Sensex plummeted by 824.29 points, closing at 75,366.17, while the NSE Nifty dropped 263.05 points to settle at 22,829.15. On Saturday, ICICI Bank reported its net profit tally of Rs 11,792 crore, compared to Rs 10,272 crore during the same quarter of the previous year, with total income rising to Rs 48,368 crore from Rs 42,792 crore.

(With inputs from agencies.)