MUMBAI: Private lender ICICI Bank reported a 35.8% increase in net profit for the July-September quarter on Saturday.
Standalone net profit rose to a record Rs 102.61 billion ($1.23 billion) in the second financial quarter, from Rs 75.58 billion in the same period a year earlier.
That was sharply higher than analysts’ forecast of Rs 96.26 billion, according to LSEG data.
Net interest income – the difference between interest earned and paid – rose 23.8% to 183.08 billion rupees.
ICICI Bank’s asset quality improved, with its gross non-performing assets (NPA) ratio at 2.48% as of end-September, compared with 2.76% at the end of June.
Standalone net profit rose to a record Rs 102.61 billion ($1.23 billion) in the second financial quarter, from Rs 75.58 billion in the same period a year earlier.
That was sharply higher than analysts’ forecast of Rs 96.26 billion, according to LSEG data.
Net interest income – the difference between interest earned and paid – rose 23.8% to 183.08 billion rupees.
ICICI Bank’s asset quality improved, with its gross non-performing assets (NPA) ratio at 2.48% as of end-September, compared with 2.76% at the end of June.
