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ICICI Bank Ltd posts consolidated PAT of Rs. 3117.68 crore in Q1FY21
Posted On : 2020-07-25 16:46:33( TIMEZONE : IST )
ICICI BANK LTD. has reported financial results for the period ended June 30, 2020.
Financial Results (Q1 FY 2020-21) - QoQ Comparison
The company has reported total income of Rs.37939.32 crores during the period ended June 30, 2020 as compared to Rs.40121.48 crores during the period ended March 31, 2020.
The company has posted net profit / (loss) of Rs.3117.68 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.1251.32 crores for the period ended March 31, 2020.
The company has reported EPS of Rs.4.76 for the period ended June 30, 2020 as compared to Rs.1.90 for the period ended March 31, 2020.
| Financials | Q1 FY2020-21 | Q4 FY19-20 | % Change |
| Total Income | ₹ 37939.32 crs | ₹ 40121.48 crs |  -5.44% |
| Net Profit | ₹ 3117.68 crs | ₹ 1251.32 crs |  149.15% |
| EPS | ₹ 4.76 | ₹ 1.90 | 150.53% |
Financial Results (Q1 FY 2020-21) - YoY Comparison
The company has reported total income of Rs.37939.32 crores during the period ended June 30, 2020 as compared to Rs.33868.89 crores during the period ended June 30, 2019.
The company has posted net profit / (loss) of Rs.3117.68 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.2513.69 crores for the period ended June 30, 2019.
The company has reported EPS of Rs.4.76 for the period ended June 30, 2020 as compared to Rs.3.83 for the period ended June 30, 2019.
| Financials | Q1 FY2020-21 | Q1 FY2019-20 | % Change |
| Total Income | ₹ 37939.32 crs | ₹ 33868.89 crs | 12.02% |
| Net Profit | ₹ 3117.68 crs | ₹ 2513.69 crs | 24.03% |
| EPS | ₹ 4.76 | ₹ 3.83 | 24.28% |
Net interest income (NII) increased by 20% year-on-year to Rs. 9,280 crore (US$ 1.2 billion) in Q1-2021 from Rs. 7,737 crore (US$ 1.0 billion) in Q1-2020.
Total period-end deposits crossed Rs. 8 lakh crore, total deposits were Rs. 801,622 crore (US$ 106.2 billion) at June 30, 2020.
15% growth in average current and savings account (CASA) deposits in Q1-2021; average CASA ratio was 41.0% in Q1-2021
Term deposits grew by 27% year-on-year at June 30, 2020
Provision coverage ratio (excluding technical write-offs) increased from 75.7% at March 31, 2020 to 78.6% at June 30, 2020
Treasury income was Rs. 3,763 crore (US$ 498 million) in Q1-2021 compared to Rs. 179 crore (US$ 24 million) in Q1-2020. During Q1-2021, the Bank sold 4.0% shareholding in ICICI Lombard General Insurance (ICICI General) and 1.5% shareholding in ICICI Prudential Life Insurance (ICICI Life). The aggregate gains from these transactions were Rs. 3,036 crore (US$ 402 million), further strengthening the balance sheet.
The amount of gross non-performing assets as of June 30, 2020 was at Rs. 40386.24 crore as compared to Rs. 41409.16 crore as of March 31, 2020 and Rs. 45763.08 crore as of June 30, 2019.
The amount of net non-performing assets as of June 30, 2020 was at Rs. 8674.65 crore as compared to Rs. 10113.86 crore as of March 31, 2020 and Rs. 11856.54 crore as of June 30, 2019.
The % of gross NPAs was at 5.46% as of June 30, 2020 as against 5.53% as of March 31, 2020 and 6.49% as of June 30, 2019.
The % of net NPAs was at 0.95% as of June 30, 2020 as compared to 0.49% as of March 31, 2020 and 0.81% as of June 30, 2019.
Total capital adequacy ratio of 16.32% and Tier-1 capital adequacy ratio of 14.93% on a standalone basis at June 30, 2020 (including profits for Q1-2021)
Provisions (excluding Covid-19 related provisions and provision for tax) declined by 42% year-on-year to Rs. 2,044 crore (US$ 271 million) in Q1-2021 from Rs. 3,496 crore (US$ 463 million) in Q1-2020.
Additional Covid-19 related provisions of Rs. 5,550 crore (US$ 735 million) made on a prudent basis in Q1-2021 with the objective of completely cushioning the balance sheet from the impact of Covid-19.
Shares of ICICI BANK LTD. was last trading in BSE at Rs.381.85 as compared to the previous close of Rs. 392.3. The total number of shares traded during the day was 2437511 in over 33707 trades.
The stock hit an intraday high of Rs. 389 and intraday low of 372.15. The net turnover during the day was Rs. 929066358.
