Win some, lose some: ICICI Bank Q3 net profit falls 32%, revenues up 10%

Bad loan accretion sees some respite and loans grow 15%, but net falls by 32.4% and core revenues up only 10%

ICICI Bank, the country's second largest private lender, posted a mixed bag in its December quarter (Q3) results after market hours on Wednesday. While its core operations might not have left much for investors to cheer, positive trends in asset quality offer hope. 

Net profit plunged 32.4 per cent year-on-year to Rs 16.5 billion for the quarter, against Rs 24.4 billion in September-December 2016. This is the lowest profit in seven quarters. Net interest income grew by only 6 per cent to Rs 57 billion, inadequate to cover for an elevated provisioning cost. Not much support came from non-interest income as