ICICI Bank consolidated Q2 net profit down 6% to Rs 1,131.20 crore

It had reported a net profit of Rs 1,204.62 crore for the July-September period a year ago

Second-largest private sector lender ICICI Bank on Saturday reported a 6 per cent decline in the September quarter consolidated net profit to Rs 1,131.20 crore, weighed down by one-time deferred tax adjustments and higher delinquency in retail loans.

On a standalone basis, the bank posted a net profit of Rs 654.96 crore for July-September as against Rs 908.88 crore in the year-ago period due to a Rs 3,020.67 crore tax adjustment hit, as it shifted to the new tax regime.

From an asset quality perspective, which has weighed heavily on its performance in the past few years, the bank reported an improvement