ICICI Bank Q4 net up 39 pc, beats forecast | business | Hindustan Times
Today in New Delhi, India
Dec 03, 2016-Saturday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

ICICI Bank Q4 net up 39 pc, beats forecast

business Updated: Apr 27, 2008 11:04 IST

Reuters
Highlight Story

ICICI Bank, India's second-largest bank, on Saturday reported an above-forecast 39 per cent rise in quarterly net profit, helped by a strong demand for loans.

The country's leading private-sector bank, which is also listed in New York said net profit in January-March, its fiscal fourth quarter, was 11.5 billion rupees ($287 million), up from 8.25 billion rupees a year ago.

A Reuters poll of analysts had forecast a 10 per cent rise in net profit to 9.07 billion rupees.

The bank said its total income in the March quarter rose to 103.91 billion rupees from 84.95 billion rupees a year ago.

Shares in ICICI Bank, which had fallen 38 per cent in the March quarter, rose 4.5 per cent on Friday to 916.15 rupees on expectations of the results topping forecasts.