January 30, 2019 / 12:13 PM / 5 months ago

REFILE-India's ICICI Bank third-quarter profit slips 2.7 pct

(Corrects day in first paragraph to Wednesday from Thursday)

Jan 30 (Reuters) - ICICI Bank reported a 2.7 percent fall in third-quarter net profit on Wednesday, missing analysts’ estimates by a wide margin, as it set aside higher provisions.

Net profit fell to 16.05 billion rupees ($225.51 million) in the three months to Dec. 31, from 16.50 billion rupees a year earlier, India's third-biggest private-sector lender by market value said here

That compares with analysts’ average estimate for a profit of 18.36 billion rupees, I/B/E/S data from Refinitiv showed.

However, gross bad loans as a percentage of total loans, a measure of asset quality, fell to 7.75 percent at the end of December, from 8.54 percent in the previous quarter and 7.82 percent in the same period a year earlier.

($1 = 71.1720 Indian rupees)

Reporting by Chris Thomas in Bengaluru; Editing by Stephen Coates and Mark Potter

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