The ICICI Bank stock rallied around 3 per cent on Monday during morning trade after the country's fourth largest company reported positive June quarter results.
On the NSE, the shares of ICICI Bank climbed 2.75 per cent to Rs 1,241.55 apiece.
The Mumbai-based lender, which is the second largest private bank after HDFC Bank, recorded 10 per cent surge at Rs 11,696 crore in consolidated net profit for the first quarter of 2024-25.
This was mainly led by treasury gains, which pushed the post-tax profit to zoom by 14.62 per cent at 11,059 crore on a standalone basis.
The non-interest income, excluding the treasury gains, soared by 23 per cent to Rs 6,389 crore, he Treasury income alone was recorded at Rs 613 crore, which is more than double the Rs 252 crore reported in June 2023 quarter.
ICICI Bank reported a stable gross non-performing assets ratio at 2.36 per cent as of June 30, 2024.
However, the private bank saw its core net interest income losing momentum compared to previous quarters, recording a growth of 7.3 per cent at Rs 19,553 crore in Q1.
