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  Business   Companies  27 Jul 2017  ICICI Bank Q1 net profit tanks to USD 319.6 million

ICICI Bank Q1 net profit tanks to USD 319.6 million

REUTERS
Published : Jul 27, 2017, 5:48 pm IST
Updated : Jul 27, 2017, 5:48 pm IST

Analysts on average had expected a net profit of Rs 20.43 billion, Thomson Reuters data showed.

ICICI Bank's net profit fell to Rs 20.49 billion (USD 319.6 million) in the quarter ended June.
 ICICI Bank's net profit fell to Rs 20.49 billion (USD 319.6 million) in the quarter ended June.

New Delhi: ICICI Bank Limited, India's third-biggest lender by assets, reported an eight percent fall in its first-quarter profit but was slightly ahead of analysts' estimates.

Net profit fell to Rs 20.49 billion (USD 319.6 million) in the quarter ended June 30, from 22.32 billion rupees a year ago, the bank said on Thursday.

Analysts on average had expected a net profit of Rs 20.43 billion, Thomson Reuters data showed.

Gross non-performing loans as a percentage of total loans rose to 7.99 percent at end-June from 7.89 percent at March-end and 5.28 percent a year earlier.

Tags: icici bank, net profit, earnings
Location: India, Maharashtra, Mumbai (Bombay)