Net interest income rose 19.6 % to nearly Rs. 38.2 billion.
Analysts, on average, had estimated a net profit of 22.4 billion rupees, according to Thomson Reuters.
Net interest margin, a key gauge of profitability for banks, stood at 3.27 % for the quarter-ended June compared with 3.01 % a year ago, ICICI said in a statement.
Asset quality at the bank worsened slightly, with net non-performing loans at 0.82 % of its total assets compared with 0.71 % a year earlier. Provisions for bad loans and contingencies rose 27 % to 5.93 billion rupees.
Rival Axis Bank has already posted a better-than-expected 22.5 % growth in net profit with a marginal increase in bad loans. Non-performing loans at No. 3 lender HDFC Bank also ticked up in the June quarter.