Analysts peg the term lending institution's net profit at around Rs 540 crore during the period, up from Rs 518 crore posted during the corresponding period of the previous year. ICICI's net profit was estimated at Rs 1008 crore during 1998-1999.

ICICI is expected to register a modest growth in its sanction and disbursement.

The basic difference between ICICI and IDBI is that the former has taken a lead in having substantial exposure in working capital for the corporates, said Sonali Sinha, an analyst within SBI Caps. ``I will comfortably expect a 10-11 per cent growth in the net profit of the institution,'' said Sinha.

However, analysts opine that the FI's recent foray into retail financing is yet to pay any divdend.

``It is a test market. We have to wait and watch before one can say on anything about return,'' said an analyst in a prominent securities research house adding that the new business is yet to be networked.

The instititution has mobilised resources quite aggressively for funding the core sector as well as corporate finance during first half of the current fiscal.

The net profit of the institution during the Q1 2000 was Rs 258 crore including a reported profit of Rs 261 crore and attributable loss of Rs three crore of erstwhile Anagram Finance which merged with ICICI. The net non-performing assets of the institution declined marginally from 7.8 per cent to 7.6 per cent. The net NPA outstanding was Rs 3,564 crore as June 1999.

ICICI's approval in April-June had gone up by 40 per cent to Rs 12,561 cropre as against Rs 8,922 crore for the corresponding quater of the previous year. However, the disbursement of the FI had expanded by five per cent to Rs 4,422 crore as against 4,225 crore.

ICICI has sought to combine past achievement with new ability to create a vitual universal bank offering a comprehensive range of financial produts and services thus moving away from its traditional role of solely a provider of credit to industry.