ICICI Bank Ltd shares hit a high record of Rs 681.40, up 1 per cent on Bombay Stock Exchange (BSE) intra-day trade on Monday, after the private sector lender reported a robust set of numbers for the quarter ended June 2021 (Q1FY22). The stock surpassed its previous high of Rs 679, touched on February 16, 2021.

However, the stock slipped nearly 3 per cent from its intra-day high on profit booking. In the morning, it traded 1.4 per cent lower at Rs 667.20 on the BSE. In comparison, the S&P BSE Sensex was down 143 points at 52,833 levels. Before Q1 results, in the past three trading days, the stock of ICICI Bank had rallied 5.5 per cent till July 23.

In Q1FY22, ICICI Bank’s net profit rose 78 per cent year-on-year to Rs 4,616 crore Q1FY22 on improvement in interest margins and lower provisioning. Its net profit was Rs 2,599 crore in the same quarter last year (Q1FY21). Sequentially, the profit rose, albeit marginally, from Rs 4,402 crore in the fourth quarter ended March 31, 2021 (Q4FY21).

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The lender’s net interest income (NII) surged 18 per cent to Rs 10,936 crore in the June quarter as against Rs 9,280 crore in the year-ago period. NII was Rs 10,431 crore in Q4FY21. The net interest margin (NIM) was 3.89 per cent in Q1FY22 compared to 3.84 per cent in the previous quarter (Q4FY21) and 3.69 per cent in Q1FY21.

Non-interest income, excluding treasury income, increased by 56 per cent year-on-year to Rs 3,706 crore in the June quarter from Rs 2,380 crore in the year-ago period. Sequentially, it fell sharply from Rs 4,137 crore in the March 2021 quarter.

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