ICICI Bank Ltd Q3FY21 consolidated net profit rises to Rs. 5498.15 crores

ICICI BANK LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.40454.45 crores during the period ended December 31, 2020 as compared to Rs.39321.42 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.5498.15 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.4882.33 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.7.84 for the period ended December 31, 2020 as compared to Rs.7.21 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 40454.45 crs	₹ 39321.42 crs	2.88%
Net Profit	₹ 5498.15 crs	₹ 4882.33 crs	12.61%
EPS	₹ 7.84	₹ 7.21	8.74%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.40454.45 crores during the period ended December 31, 2020 as compared to Rs.38370.95 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.5498.15 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.4670.10 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.7.84 for the period ended December 31, 2020 as compared to Rs.7.09 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 40454.45 crs	₹ 38370.95 crs	5.43%
Net Profit	₹ 5498.15 crs	₹ 4670.10 crs	17.73%
EPS	₹ 7.84	₹ 7.09	10.58%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.117715.19 crores during the 9 months period ended December 31, 2020 as compared to Rs.109664.62 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.13498.16 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.8314.99 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.19.91 for the 9 months period ended December 31, 2020 as compared to Rs.12.66 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 117715.19 crs	₹ 109664.62 crs	7.34%
Net Profit	₹ 13498.16 crs	₹ 8314.99 crs	62.34%
EPS	₹ 19.91	₹12.66	57.27%

Total deposits increased by 22% year-on-year to Rs. 874,348 crore (US$ 119.7 billion) at December 31, 2020. Average current account deposits increased by 27% year-on-year in Q3-2021. Average savings account deposits increased by 16% year-on-year in Q3-2021. Total term deposits increased by 26% year-on-year to Rs. 478,932 crore (US$ 65.5 billion) at December 31, 2020.
- The Bank had a network of 5,267 branches and 14,655 ATMs at December 31, 2020.

- During the quarter, the gross additions to NPAs were ₹ 471 crore (US$ 64 million). Recoveries and upgrades, excluding write-offs, from nonperforming loans were Rs. 1,776 crore (US$ 243 million) in Q3-2021. The net NPA ratio was 0.63% at December 31, 2020. Loans amounting to Rs. 8,280 crore (US$ 1.1 billion), compared to Rs. 1,410 crore (US$ 193 million) at September 30, 2020, were not classified as non-performing at December 31, 2020 pursuant to the Supreme Court’s interim order. On a proforma basis, the net NPA ratio was 1.26% at December 31, 2020 compared to 1.12% at September 30, 2020. The provision coverage ratio on a proforma basis was robust at 77.6% at December 31, 2020. Excluding proforma NPAs, the total fund based outstanding to all borrowers under resolution was Rs. 2,546 crore (US$ 348 million), or about 0.4% of the total loan portfolio, at December 31, 2020. The fund-based and non-fund based outstanding to borrowers rated BB and below (excluding non-performing assets and loans included in the proforma NPA disclosures) was Rs. 18,061 crore (US$ 2.5 billion) at December 31, 2020 compared to Rs. 16,167 crore (US$ 2.2 billion) at September 30, 2020.

- The Bank’s total capital adequacy at December 31, 2020, including profits for 9M-2021, was 19.51% and Tier-1 capital adequacy was 18.12% compared to the minimum regulatory requirements of 11.08% and 9.08% respectively.

Shares of ICICI BANK LTD. was last trading in BSE at Rs.537 as compared to the previous close of Rs. 528.15. The total number of shares traded during the day was 670598 in over 11869 trades.

The stock hit an intraday high of Rs. 544.8 and intraday low of 529.85. The net turnover during the day was Rs. 359423364.

Source : Equity Bulls

Keywords