Analysts on average had expected a net profit of Rs 20.43 billion, Thomson Reuters data showed.
ICICI Bank spokesperson said it has installed state-of-the-art note sorting machines that check the quality of millions of notes every day.
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.
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