ICICI Bank Q1 Results: Net profit jumps 15% on-year to Rs 12,768 crore, beats Street estimate

ICICI Bank Q1 Results: Net profit jumps 15% on-year to Rs 12,768 crore, beats Street estimate -

1) ICICI Bank, India’s second-largest private sector lender, on Saturday reported a 15 percent year-on-year increase in net profit to Rs 12,768.21 crore for the fiscal first quarter, beating analyst expectations. NII -- the difference between interest earned and interest expended -- stood at Rs 21,634.46 crore for the June quarter, up 8.4 percent on-year. 2) According to a Moneycontrol poll, the Street had projected an 8 percent YoY growth in NII to Rs 21,091 crore and a 9.5 percent rise in net profit to Rs 12,112 crore for ICICI Bank in the April-June quarter. 3) The bank’s core operating profit rose 13.6 percent year-on-year to Rs 17,505 crore, while profit before tax (excluding treasury gains) increased 11.4 percent YoY to Rs 15,690 crore in Q1. Total income (standalone) rose to Rs 51,451.81 crore, compared to Rs 45,997.70 crore in the year-ago period. Other income surged to Rs 8,504.90 crore from Rs 7,001.92 crore a year earlier. 4)Asset quality improved year-on-year. The gross NPA ratio declined to 1.67 percent from 2.15 percent in the year-ago quarter. Net NPA ratio also fell to 0.41 percent from 0.43 percent YoY. Sequentially, however, both gross and net NPA ratios remained stable. 5) The gross NPA additions were Rs 6,245 crore (US$ 728 million) in April-June quarter, compared to Rs 5,916 crore (US$ 690 million) in a year ago period, according to the press release. 6) Recoveries and upgrades of NPAs, excluding write-offs and sale, were Rs 3,211 crore (US$ 374 million) in Q1FY26 compared to Rs 3,292 crore (US$ 384 million) in Q1FY25. 7) Overall results are good. This is all for information. This is not a buy/sell recommendation. Thank you, Technofunda24