ICICI Profit Dips 13%

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MUMBAI – Country’s largest private sector lender ICICI Bank today reported 12.8% decline in consolidated net profit to Rs 2,979 crore for the September quarter as its provisioning for bad loans shot up by seven-fold.

The bank’s net profit in July-September quarter of the last fiscal was Rs 3,419 crore.

Its total income during the second quarter of the current fiscal increased to Rs 32,435 crore, as against Rs 25,138 crore in the year-go period, ICICI Bank said.

Its total standalone income increased to Rs 22,759 crore compared with Rs 16,106 crore on standalone basis in the same quarter of 2015-16. PTI