ICICI Bank Q4 profit plunges 45% to Rs 1,142 cr

ICICI Bank today reported 45 per cent decline in consolidated net profit to Rs 1,142 crore for the fourth quarter ended March 31, 2017-18.

It had a net profit of Rs 2,083 crore in the January-March quarter of the preceding fiscal, 2016-17.

The bank's standalone profit declined by 50 per cent to Rs 1,020 crore as against Rs 2,025 crore in the year-ago quarter.

The results come against the backdrop of a series of allegations of impropriety in ICICI Bank's extending loans to some companies and enjoying reciprocal benefits by the family members of the lender's CEO Chanda Kochhar.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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