BENGALURU - ICICI Bank Ltd reported on Monday a 5 percent drop in its fourth-quarter profit, dented by higher expenses.
Net profit dropped to 9.69 billion rupees ($139.71 million) in the three months ended March 31, from 10.20 billion rupees a year earlier when stricter central bank rules had forced the country's third-biggest lender by assets to account for more bad loans.
Analysts were looking for a profit of 21.29 billion rupees, I/B/E/S data from Refinitiv showed.
Total expenses jumped 18.1 percent to 146.80 billion rupees.
($1 = 69.3575 Indian rupees)