ICICI Bank Q1 Net Beats Estimates, Bad Loans Ease

Analysts on average had expected ICICI Bank to report a net profit of 29.2 billion rupees, according to data compiled by Thomson Reuters.

Published: 31st July 2015 12:40 PM  |   Last Updated: 31st July 2015 12:40 PM   |  A+A-

MUMBAI: ICICI Bank Ltd<ICBK.NS>, India's biggest private sector lender by assets, reported a 12 percent rise in quarterly profit, beating estimates, and its bad loan ratio fell sequentially, sending its shares higher by more than 5 percent.

Net profit rose to 29.76 billion rupees ($465 million) for its fiscal first quarter to June 30, from 26.55 billion rupees reported a year earlier, the lender, which is also listed in New York <IBN.N>, said in a statement.

Analysts on average had expected ICICI Bank to report a net profit of 29.2 billion rupees, according to data compiled by Thomson Reuters.

Gross bad loans as a percentage of total loans fell to 3.68 percent from 3.78 percent in the March quarter.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp