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HomePoliticsIndia ICICI Bank’s net profit jumps 30% in January-March

India ICICI Bank’s net profit jumps 30% in January-March

MUMBAI (Reuters) – Indian private lender ICICI Bank on Saturday reported a near 30% increase in net profit for the fiscal fourth quarter ending in March, on the back of improved net interest income and healthy loan growth.

Standalone net profit for the quarter was 91.22 billion Indian rupees ($1.11 billion), up from 70.19 billion rupees in the same quarter a year earlier.

Analysts had forecast the bank to report a net profit of 90.41 billion rupees, according to Refinitiv data.

($1 = 82.0300 Indian rupees)

(Reporting by Siddhi Nayak; editing by Mark Heinrich)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.

Source: The Print

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