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ICICI Bank Friday reported a consolidated net profit of Rs 1,204.62 crores, dropping 42 per cent in the quarter ended September 2018. One of the largest private sector lenders of the country had registered a consolidated net profit of Rs 2,071.38 crore in the corresponding quarter a year ago.
According to the bank’s regulatory filing, the total income during the quarter under review on a consolidated basis stood at Rs. 31,914.82 crores as against Rs 30,190.54 crores a year ago.
On a standalone basis, its net profit fell by 56 per cent to Rs 908.88 crore in the said quarter as against Rs 2,058.19 crore in July-September 2017.
Total income of the ICICI Bank on a standalone basis 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 earlier reported a net loss of Rs 119.55 crores in the first quarter of the current fiscal year.
Net interest income (NII) in the September-end quarter increased 12.41% to Rs. 6,417.58 crores from Rs. 5,709.07 crores in the same quarter period last year. Provisions during the quarter declined 11.30% to Rs. 3,994.29 crores as against Rs. 4,502.93 crores in the year-ago quarter.
Gross non-performing assets (GNPAs) increased 22.5% to Rs. 54,488.96 crores during the September-end quarter as against Rs. 44,488.54 crores in the corresponding quarter of the previous year.
The bank also added fresh bad loans worth Rs, 3,117 crores during the September-end quarter as compared to Rs. 4,036 crore in the Q1 FY19.
