ICICI Bank Ltd has reported a 26.61 per cent rise in net profit at Rs 430.74 crore (Rs 4.31 billion) for the first quarter ended June 30, 2004, compared to Rs 340.2 crore (Rs 3.40 billion) in the corresponding quarter last fiscal.
Total income during the period under review, however, declined to Rs 2,853.49 crore (Rs 28.53 billion) from Rs 2,938.55 crore (Rs 29.38 billion) in Q1 of fiscal 2003-04, the country's second largest bank said in a release on Friday.
On a consolidated basis, the ICICI Bank group's net profit and total income stood at Rs 399.57 crore (Rs 3.99 billion) and Rs 3,500.49 crore (Rs 35 billion), respectively.
Net interest income, on a standalone basis, increased 39 per cent to Rs 631 crore (Rs 6.31 billion) while fee-based income rose 77 per cent to Rs 418 crore (Rs 4.18 billion).