ICICI Bank Q1 Results 2024 LIVE Updates: ICICI Bank is expected to post a net profit growth of 11-13 per cent year-on-year (YoY) up to Rs 10,875 crore for the first quarter of the current financial year 2024-25, according to analysts. The lender is expected to announce the Q1 financial results today (Saturday, July 17), at around 3:30 pm.
The analysts expect the lender’s net interest income (NII) to rise 7.4 per cent, and its gross non-performing assets (NPAs) to rise marginally to 2.3 per cent during Q1 FY25.
On a quarter-on-quarter basis, ICICI Bank may post a net profit growth of up to 1.6 per cent.
Analysts at brokerage BNP Paribas in its report expect ICICI Bank to report a net profit of Rs 10,802.2 crore in the June 2025 quarter, which is higher by nearly 1 per cent Q-o-Q and 12 per cent Y-o-Y.
Another brokerage firm Nomura in its report said ICICI Bank may post a net profit of Rs 10,680 crore for the June 2024 quarter, up 11 per cent Y-o-Y from Rs 9,650 crore in Q1FY24 and unchanged from Rs 10,710 crore in Q4FY24.
Yes Securities pegs the net profit at Rs 10,875.7 crore, which is 13 per cent higher year-on-year and 1.6 per cent sequentially.
Apart from net profit, brokerage Motilal Oswal Financial Services expects ICICI Bank’s net NPAs to remain flat at 0.4 per cent in Q1FY25.
It, however, expects gross non-performing assets (GNPA) to rise slightly to 2.3 per cent during Q1 FY25, compared with 2.2 per cent of Q4FY24.
“We expect loan growth to remain healthy, led by Retail and SME segments. Margins, however, are expected to moderate slightly. Asset quality will be the key monitorable,” Motilal Oswal said.
Shares of ICICI Bank on Friday rose Rs 9.7 or 0.81 per cent to close at Rs 1,207.7 apiece on the BSE.
