ICICI Bank Ltd, 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 20.49 billion rupees ($319.6 million) in the quarter ended June 30, from 22.32 billion rupees a year ago, the bank said on Thursday. (http://bit.ly/2vLv63v) Analysts on average had expected a net profit of 20.43 billion rupees, 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.
($1 = 64.1075 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.