ICICI Bank, India's largest private sector bank has declared its first quarter results for the period till June 30.

The lender has recorded 21% decent growth in its standalone net profit which stood at Rs 878 crore for the first quarter ended June 30.

In a communiqué to National Stock Exchange (NSE), the bank said that it had clocked a net profit of Rs 728 crore in the June quarter of last fiscal.

However, lender's interest income during the reporting quarter has plunged by 9.61% to Rs 7,133 crore, from Rs 7,891 crore in the corresponding period last fiscal.

Further, interest expenditure of the bank has also witnessed a dip of 11.27% to Rs 5,148 crore during the latest three month period against Rs 5,802 crore in the similar period a year ago.

In a separate release, the lender has informed that its profit after tax (PAT) on consolidated basis surged 68% to Rs 1,035 crore, from Rs 617 crore in the year-ago period.

As per reports in media, current and savings account (CASA) ratio of  ICICI Bank jumped to 30.4% during June 30, from 27.6% at the end of Q1 Financial Year 2009.

Scrip of ICICI Bank settled on Friday in red at Rs 766, down 1.04% on Bombay Stock Exchange (BSE). The counter clocked a volume of 2,429,304 shares on BSE.(Friday)