ICICI Q4 profit tanks 76% on exceptional provision, NPA worsens

ICICI Bank ‘s fourth quarter earnings shocked the street on Friday with profit falling sharply by 76 percent to Rs 702 crore, impacted by exceptional provisioning of Rs 3,600 crore. Strong other income, operating profit and tax refund helped the company make profit during the quarter.

Today Stock Market Update- Sai Proficient
Today Stock Market Update- Sai Proficient

Net interest income, the difference between interest earned and interest expended, grew by 6.4 percent to Rs 5,404.51 crore on yearly basis, supported by loan growth of 12 percent.

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