ICICI Bank Q2 profit halves, misses estimates
Agencies | Oct 26, 2018, 17:28 ISTHighlights
- ICICI Bank's net profit came in at Rs 909 crore ($123.84 million) in the three months ended September 30, compared with Rs 2,058 crore a year earlier
- Analysts on average had expected a net profit of Rs 998 crore, according to Refinitiv data.
NEW DELHI: ICICI Bank, reported on Friday a 55.8 per cent fall in second-quarter net profit, which missed analysts' estimates, as expenses climbed.
Net profit came in at Rs 909 crore ($123.84 million) in the three months ended September 30, compared with Rs 2,058 crore a year earlier, the private-sector bank said.
Analysts on average had expected a net profit of Rs 998 crore, according to Refinitiv data.
Gross bad loans as a percentage of total loans stood at 8.54 per cent at September-end, compared with 8.81 per cent in the previous quarter and 7.87 per cent in the same period a year ago.
Total income of the bank on a consolidated basis rose to 31,914.82 crore as against Rs 30,190.54 crore a year ago.
On a standalone basis, total income of the ICICI Bank stood at Rs 18,262.12 crore during the September quarter, down from Rs 18,763.29 crore in the year-ago period.
The bank had reported a net loss of Rs 119.55 crore in the first quarter of the ongoing fiscal.
Its shares closed at Rs 315.05 apiece on the BSE, down 1.45 per cent from their previous close.
Net profit came in at Rs 909 crore ($123.84 million) in the three months ended September 30, compared with Rs 2,058 crore a year earlier, the private-sector bank said.
Analysts on average had expected a net profit of Rs 998 crore, according to Refinitiv data.
Gross bad loans as a percentage of total loans stood at 8.54 per cent at September-end, compared with 8.81 per cent in the previous quarter and 7.87 per cent in the same period a year ago.
Total income of the bank on a consolidated basis rose to 31,914.82 crore as against Rs 30,190.54 crore a year ago.
On a standalone basis, total income of the ICICI Bank stood at Rs 18,262.12 crore during the September quarter, down from Rs 18,763.29 crore in the year-ago period.
The bank had reported a net loss of Rs 119.55 crore in the first quarter of the ongoing fiscal.
Its shares closed at Rs 315.05 apiece on the BSE, down 1.45 per cent from their previous close.
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