ICICI Bank posted a fall of 2.7 per cent in net profit to Rs 1,604.9 crore for the quarter ending December as against Rs 1,650.24 crore in the corresponding period last year.
ICICI Bank posted a fall of 2.7 per cent in net profit to Rs 1,604.9 crore for the quarter ending December as against Rs 1,650.24 crore in the corresponding period last year. The net interest income (NII) was recorded Rs 6,875 crore as against Rs 5,705 crore for the same period, a drop of 20 per cent. The private lender also recorded slippages at Rs 2019 crore.
CNBC-TV18 Polls had predicted a profit of Rs 1,791.7 crore for the quarter in focus. Total income was recorded at Rs 20,163.25 crore for the three-month period, up 19.8 per cent from Rs 16,832.22 crore for the corresponding period a year ago.
The gross non performing assets (NPAs) of the bank reduced by 5.3 per cent (QoQ) to Rs 51,591.5 crore from Rs 54,489 crore. Similarly, net NPA reduced by 26.4 per cent (QoQ) from Rs 22,085.7 crore to Rs 16,252.4 crore.
The provisions and contingencies surged 18.89 per cent to Rs 4,244.15 crore during the quarter under review against Rs 3,569.56 crore in the corresponding quarter last year. CASA deposits rose 15 per cent YoY to Rs 2,99,374 crore at December 31.
The perating profit of ICICI Bank rose to Rs 6,146.42 crore in quarter ending December as against Rs 5,057.75 crore in December quarter of FY18.