ICICI BANK Announces Quarterly Results (2QFY22); Net Profit Up 17.1%

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ICICI BANK Announces Quarterly Results (2QFY22); Net Profit Up 17.1%
Tue, 26 Oct

ICICI BANK has announced its results for the quarter ended September 2021. Here is a detailed performance review of the same:

ICICI BANK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Operating incomeRs m222,265230,973234,7801.6%5.6%
Other incomeRs m170,631157,553160,0651.6%-6.2%
Total revenuesRs m392,896388,526394,8451.6%0.5%
InterestRs m109,450100,737100,9260.2%-7.8%
Gross Profit Rs m112,815130,235133,8542.8%18.6%
Other expensesRs m184,538191,614182,670-4.7%-1.0%
Profit before taxRs m68,40966,78683,50825.0%22.1%
TaxRs m14,46417,01820,34919.6%40.7%
Profit after taxRs m53,94549,76863,15826.9%17.1%
Gross profit margin %50.856.457.0
Effective tax rate%21.125.524.4
Net profit margin%24.321.526.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The bank's operating income (interest earned) during the quarter grew 5.6% on a year-on-year (YoY) basis. The interest expended was down by 7.8% YoY during the same period.
  • The bank's operating profit increased by 18.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 57.0% in 2QFY22 as against 50.8% in 2QFY21.
  • Other income declined by 6.2% YoY during the quarter.
  • Net profit for the quarter increased by 17.1% YoY. Net profit margins during the quarter increased from 24.3% in 2QFY21 to 26.9% in 2QFY22.
Quarter-on-Quarter Performance:
  • The bank's operating income (interest earned) during the quarter grew 1.6% on a quarter-on-quarter (QoQ) basis. The interest expended was up by 0.2% QoQ during the same period.
  • The bank's operating profit increased by 2.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 57.0% in 2QFY22 as against 56.4% in 1QFY21.
  • Net profit for the quarter increased by 26.9% QoQ, while net profit margins increased from 21.5% in 1QFY21 to 26.9% in 2QFY22.

To see how ICICI BANK has performed over the last eight quarters,please visit here.

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ICICI BANK Share Price Performance

Over the last one year, ICICI BANK share price has moved up from Rs 405.0 to Rs 827.5, registering a Gain of Rs 422.5 or around 104.3%.

Meanwhile, the S&P BSE BANKEX is trading at Rs 47,132.3 (down 0.1%). Over the last one year it has moved up from 27,413.2 to 47,132.3, a gain of 19,719 points (up 71.9%).

Overall, the S&P BSE SENSEX is up 51.0% over the year.

Current Valuations

At the current price of Rs 827.5, the price to earnings (P/E) ratio of ICICI BANK stands at 25.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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