ICICI Bank Q1 net profit up 30% at Rs 1,332 cr

India's largest private sector lender ICICI Bank has reported a sharp jump of 30% (YoY) in profit for first quarter of FY12. During the period, net profit of the bank increased to Rs 1,332 crore against Rs 1,026 crore in the corresponding quarter of last fiscal.

Net interest income went up over 21% to Rs 2,411 crore from Rs 1,991 crore year-on-year. Non-performing assets (NPAs) at gross as well as net level declined to 4.36% from 5.14% and 1.04% from 1.87% year-on-year, respectively. ICICI Bank has made less provisions in the April-June quarter as compared to same quarter of last fiscal - provisions declined over 43% to Rs 454 crore from Rs 798 crore. Consolidated net profit shot up nearly 53% (YoY) to Rs 1,666 crore from Rs 1,091 crore. CASA ratio in the quarter ended June 2011 was 41.9% against 45.1% in the previous quarter. Advances went up 20% (YoY) while saving deposits climbed 18% (YoY). Net interest margin of the bank declined to 2.6% in April-June quarter against 2.7% in the previous quarter.