Private sector lender ICICI Bank's second quarter profit fell 55 percent year-on-year to Rs 908.9 crore on higher gross NPA (non performing assets) provisioning.

Profit in year-ago quarter was Rs 2,058.19 crore.

Total income of the ICICI Bank on a standalone basis stood at Rs 18,262.12 crore during the September quarter, down from Rs 18,763.29 crore in the year-ago period.

Provisions for bad loans and contingencies came down to Rs 3,990 crore quarter-on-quarter from Rs 4,503 crore.

Gross bad loans as a percentage of total loans stood at 8.54 percent at September-end, compared with 8.81 percent in the previous quarter and 7.87 percent in the same period a year ago.

Net interest income (NII), the difference between interest earned and interest expended to Rs 6,418 crore for the reported quarter from Rs 5,709 crore.

Net interest margin at 3.33 percent against 3.19 percent quarter-on-quarter, while gross non-performing assets (NPA) at 8.54 percent against 8.81 percent quarter-on-quarter.

Total income of the ICICI Bank on a standalone basis stood at Rs 18,262.12 crore during the September quarter, down from Rs 18,763.29 crore in the year-ago period.

(This is a developing story. Check back for more details.)

First Published:Oct 26, 2018 4:50 PM IST