ICICI Bank Q4 net soars 189% even as loan quality worsens

Gross NPAs at 7.89% vs 7.2% q-o-q; will issue one bonus share for every 10

The country’s largest private sector lender, ICICI Bank, on Wednesday reported a 189 per cent year-on-year rise in its March quarter (Q4) standalone net profit, even as loan quality worsened. 

Net profit for the quarter was at Rs 2,024.64 crore, against Rs 701.89 crore in the year-ago period, but lower than Bloomberg consensus estimate of Rs 2,143 crore. Gross bad loans as a percentage of advances were at 7.89 per cent, against 5.21 per cent in the year-ago period. In the third quarter ended December 2016, the bank’s gross non-performing asset (GNPA) ratio was 7.20 per cent.

Gross