ICICI Bank Q3 Profit Dips 4% Below Estimates, NII Up 8%; Asset Quality Improves

• ICICI Bank's Q3 net profit fell 4% year-on-year to ₹11,318 crore, missing CNBC-TV18's poll estimate of ₹12,379 crore.
• Net Interest Income (NII) grew 7.7% year-on-year to ₹21,932.2 crore, slightly below the market estimate of ₹22,092 crore.
• Asset quality improved with Net NPA at 0.37% and Gross NPA at 1.53% quarter-on-quarter.
• Increased provisioning, rising from ₹1,227 crore to ₹2,555 crore, and a 13% rise in operating expenses pressured profits.
• Despite higher other income and lower tax expenses, these could not offset the impact of increased provisioning.

Why It Matters: ICICI Bank's Q3 profit declined due to higher provisioning and operating expenses, despite NII growth and improved asset quality.