Investing Strategy, Private Bank , ICICI Bank Market News Tranding poSt january months ago

Private sector lender, ICICI Bank, reported a drop of 32 percent in the Q3 net profit at Rs 1,650 crore against Rs 2,442 crore posted during the same period last year.

The number is lower than a poll of analysts by CNBC-TV18, which pegged the figure at Rs 1,816.8 crore.

The net interest income was reported at Rs 5,705 crore against the poll number of Rs 5,893 crore.

On the asset quality front, the lender reported a gross NPA of Rs 46,039 crore, marginally higher than Rs 44,488 crore reported during the previous quarter.

Meanwhile, the net NPAs fell to Rs 23,810 crore against Rs 24,129 crore quarter on quarter.

The provisions fell to Rs 3,569.6 crore against Rs 4,502.9 crore quarter on quarter.

It also reported a steady 10 percent growth in loan book. Meanwhile, recoveries and upgrades were reported at Rs 1108 crore against Rs 1,029 crore quarter on quarter.

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