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ICICI Bank net profit up 13%

ICICI Bank net profit up 13%
Highlights

ICICI Bank Net Profit Up 13%, ICICI Bank Profits, Net Interest Margin. ICICI Bank on Friday reported 13 per cent rise in consolidated net profit at...

ICICI Bank on Friday reported 13 per cent rise in consolidated net profit at Rs 2,698 crore for the second quarter ended September 30, 2013. The bank's net profit was Rs 2,390 crore in the same period last fiscal, ICICI Bank said in a statement.

The total income in the July-September period of the current fiscal increased to Rs 19,015.58 crore, from Rs 18,609.43 crore in the second quarter of 2012-13.
On standalone basis, ICICI Bank's net profit rose by 20 per cent to Rs 2,352 crore as compared to Rs 1,956.11 crore in the same quarter of the previous fiscal.
The total income during the period under review was Rs 12,979.79 crore as against Rs 12,069.30 crore in the same period a year ago.
During the second quarter, the net interest income of the bank increased by 20 per cent to Rs 4,044 crore from Rs 3,371 crore in the same period a year ago.
The net interest margin (NIM) during the period rose to 3.31 per cent as compared to 3 per cent at the end of September 2012.
Provisions during the quarter were at Rs 625 crore as compared to Rs 508 crore in the same period of the previous fiscal.
The net non-performing asset (NPA) ratio of the bank rose to 0.85 per cent as compared to 0.78 per cent at the end of September 2012. Total advances increased by 16 per cent to Rs 3,17,786 crore at the end of September 30, 2013.
ITC net up 21.46%
New Delhi: ITC Ltd reported 21.46 per cent increase in net profit at Rs 2,230.53 crore for the second quarter ended September 30, driven by a strong performance in the FMCG business. It had reported net profit of Rs 1,836.42 crore in the July-September quarter of the previous fiscal, 2012-13.
Its net sales during Q2, 2013-14 increased by 8.81 per cent to Rs 7,775.79 crore, from Rs 7,146 crore in the year-ago period, ITC said in a filing.
The company's Q2 revenue from FMCG business increased by 12.01 per cent to Rs 5,686.03 crore, as against Rs 5,075.95 crore in the second quarter of last fiscal.

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