ICICI Bank Q1 FY27 Results (NSE: ICICIBANK)
Signal: Earnings grew
The read
Strong quarter: PAT up 13.9% YoY on robust NII and lower provisions YoY, but QoQ provision spike to ₹1,297 Cr demands watch. Advances grew 20% and GNPA improved to 1.38%, sustaining the positive trajectory.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹79,689.22 Cr | 6.9% | -5.8% |
| EBIT | ₹22,604.33 Cr | 6.0% | |
| Net profit | ₹15,440.06 Cr | 13.9% | |
| EPS | ₹21.54 | 13.3% | |
| EBIT margin | 28.4% |
P&L walk
Total income ₹79,689 Cr (+6.9% YoY) driven by NII +12.3%; pre-provision operating profit +6.0% YoY; PAT ₹15,440 Cr (+13.9%) aided by lower provisions YoY despite sharp QoQ spike.
Segments
Wholesale (PBT ₹7,479 Cr) and Retail (₹6,239 Cr) together drive 64% of pre-adjustment profit; Others (asset management etc.) added ₹2,191 Cr, while Life Insurance contributed ₹431 Cr.
Key positives
- NII grew 12.3% YoY to ₹29,177 Cr, supported by 19.6% advances expansion.
- Asset quality improved: GNPA 1.38% vs 1.67% YoY; net NPA 0.35%.
- Strong capitalisation with CAR at 16.84%, providing growth headroom.
Key concerns
- Provisions surged to ₹1,297 Cr from ₹261 Cr QoQ, signaling potential credit cost normalisation.
- SEBI warning and RBI directive on ₹1,283 Cr standard asset provision for agricultural loans pose regulatory overhang.
- Consolidated cost-to-income rose to 42.7% from 40.5% YoY, reflecting higher operating expenses including insurance claims.
Research and educational content only. Not investment advice.