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Strategies & Market Trends : India Stocks
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From: Julius Wong7/25/2009 7:47:04 AM
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ICICI Profit Rises 21%
By JOHN SATISH KUMAR and NUPUR ACHARYA

MUMBAI -- India's ICICI Bank Ltd. Saturday posted a better-than-expected 21% rise from a year earlier in its fiscal first-quarter net profit.

Net profit for the April-June quarter rose to 8.78 billion rupees ($182 million) from 7.28 billion rupees a year earlier, the country's largest private sector bank by assets said. It didn't immediately give a reason for the rise in profit.

The results are above market expectations. The average of estimates of six analysts polled by Dow Jones Newswires was for a net profit of 7.64 billion rupees. Total income, however, fell 2.2% to 92.23 billion rupees from 94.30 billion rupees a year earlier.

online.wsj.com
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