ICICI Bank Q4 PAT tanks to Rs 702 cr on Rs 3,600 cr exceptional loss
NEW DELHI: ICICI Bank BSE -1.48 %, the country’s second largest private bank by market value, on Friday reported a year-on-year net profit of Rs 702 crore for the March quarter compared with Rs 3,120 crore estimated by analysts polled by ET Now, which was impacted by higher-than-anticipated contingency provisioning during the quarter.
This was 76 per cent lower than the net profit of Rs 2,922 crore that the company reported for the corresponding quarter last year. The bank said it made contingency provision of Rs 3,600 crore during the quarter due to its exposure to some sectors.
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