ICICI Bank Q2 profit rises 15%, beats estimates

ICICI Bank Ltd, biggest private sector lender , reported a record quarterly profit on Thursday, beating analysts estimates, on higher lending and fee income.

Net profit rose 15 per cent to Rs 2,709 crore ($440.88 million) for its fiscal second quarter ended September 30 from Rs 2,352 crore a year earlier, the Mumbai-based lender said in a statement.

Analysts on average had expected a net profit of Rs 2693 crore for ICICI Bank, which is also listed in New York.

($1 = 61.4450 rupees)

(Reuters)