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ICICI Bank second-quarter profit falls, lags estimates

business Updated: Oct 27, 2017 16:53 IST
Reuters
Reuters
Reuters
Icici,Icici bank,Q2 results

Net profit fell to 20.58 billion rupees in the quarter ended Sept. 30, from 31.02 billion rupees a year earlier.(HT File Photo)

ICICI Bank Ltd, India’s third-biggest lender by assets, reported a 34% fall in second-quarter profit, missing analysts’ estimates.

Net profit fell to 20.58 billion rupees in the quarter ended Sept. 30, from 31.02 billion rupees a year earlier, the bank said on Friday.

Analysts on average had expected a profit of 24.91 billion rupees, Thomson Reuters data shows.

Gross bad loans as a percentage of total loans stood at 7.87% at end-September, versus 7.99% at end-June and 6.12% a year ago.

First Published: Oct 27, 2017 16:52 IST