ICICI Bank Q2 beats estimates; net profit rises 30%

ICICI Bank reported better than expected results with 30% rise in its net profit to Rs 1,956 crore year-on-year as compared to Rs 1,503 crore from the corresponding period of previous quarter.

The non performing assets (NPAs) rose to Rs 2,138 crore when compared to Rs 1,941 crore of the last quarter.

The company's net interest margin improved to 3.00% for Q2-2013 from 2.61% for Q2-2012.

Net interest income increased by 35% to Rs 3,371 crore in Q2-2013 from Rs 2,506 crore in Q2-2012.

The bank rose 20% year-on-year in consolidated profit after tax to Rs 2,390 crore for Q2-2013 from Rs 1,992 crore for Q2-2012

Strong capital adequacy ratio of 18.28% and Tier-1 capital adequacy of 12.83%, well above RBI's requirement of total capital adequacy of 9.0% and Tier-1 capital adequacy of 6.0%.

Shares of the company was seen trading at Rs 1087, marginally higher by 0.13% on BSE at 1.05 pm IST. It touched an intra-day low of Rs 1076.

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