ICICI Bank Q2 FY27 Results: Consolidated Net Profit ₹17,312 Crore on Total Income of ₹88,161 Crore
Earnings
Banking
Blacklitt Research3 min read
Daderot, via Wikimedia Commons (CC0 1.0). Illustrative image.
ICICI Bank reported consolidated total income of ₹88,161.18 crore and net profit of ₹17,311.87 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹57,157.49 crore and net profit was ₹14,843.03 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹88,161 crore, up 15.8% YoY, up 10.6% QoQ
Net profit: ₹17,312 crore, up 21.4% YoY, up 6.8% QoQ
EPS: ₹22.76, against ₹18.71 in Q2 FY26
Consolidated profit after tax (news release): ₹16,333 crore, against ₹13,357 crore
Standalone
The company on its own, without its subsidiaries
Total income: ₹57,157 crore, up 15.9% YoY, up 5.4% QoQ
Net profit: ₹14,843 crore, up 20.1% YoY, up 0.3% QoQ
EPS: ₹20.68, against ₹17.31 in Q2 FY26
Net interest margin: 4.18%, against 4.30% a year earlier and 4.36% in June
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
88,161.18
76,146.59
+15.8%
79,689.22
+10.6%
Revenue from operations
55,991.91
48,180.91
+16.2%
52,240.85
+7.2%
Other income
32,169.27
27,965.68
+15.0%
27,448.37
+17.2%
17,311.87
14,256.40
+21.4%
16,209.74
+6.8%
Tax expense
5,802.89
4,808.18
+20.7%
5,097.39
+13.8%
Net profit margin
19.64%
18.72%
+0.91 pp
20.34%
-0.70 pp
Tax as share of profit before tax
25.1%
25.2%
-0.12 pp
23.9%
+1.18 pp
EPS, basic (₹)
22.76
18.71
+21.6%
21.54
+5.7%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The group earns about ₹2,500 crore more than the bank on its own. Consolidated net profit in the table is ₹17,311.87 crore against ₹14,843.03 crore standalone, a gap of about 17% that comes from subsidiaries, mainly insurance and asset management. The news release gives a consolidated profit after tax of ₹16,333 crore against ₹13,357 crore (+22.3%); it differs from the table figure by about ₹979 crore, which is probably the minority interest in subsidiaries, though the text read does not itemise it. Consolidated assets rose 22.6% to ₹32,92,953 crore.
The bank bought a further 2% of ICICI Life Insurance for ₹1,470 crore during the quarter. ICICI Life's own annualised premium equivalent rose to ₹4,935 crore. Other income is 36% of consolidated total income (derived), because insurance and fee businesses sit in the group.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
57,157.49
49,333.49
+15.9%
54,246.84
+5.4%
Revenue from operations
49,110.00
41,757.95
+17.6%
45,670.78
+7.5%
Other income
8,047.49
7,575.54
+6.2%
8,576.06
-6.2%
14,843.03
12,358.89
+20.1%
14,804.50
+0.3%
Tax expense
4,881.51
4,024.96
+21.3%
4,321.12
+13.0%
Net profit margin
25.97%
25.05%
+0.92 pp
27.29%
-1.32 pp
Tax as share of profit before tax
24.7%
24.6%
+0.18 pp
22.6%
+2.16 pp
EPS, basic (₹)
20.68
17.31
+19.5%
20.65
+0.1%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Operating profit grew faster than net interest income, and provisions fell. Net interest income rose 17.7% to ₹25,339 crore, fee income 20.1% to ₹7,795 crore and operating expenses only 8.5% to ₹12,811 crore, so core operating profit rose 21.8% to ₹20,805 crore. Treasury was a loss of ₹230 crore against a gain of ₹220 crore, and provisions (excluding tax) fell to ₹851 crore from ₹914 crore. Profit before tax rose 20.4% to ₹19,724 crore and profit after tax 20.1% to ₹14,843 crore, with tax at 24.7% of profit before tax.
The margin is narrowing even as profit grows. The net interest margin was 4.18% against 4.30% a year ago and 4.36% in June, which included 8 basis points from interest on a tax refund. Against June profit rose only 0.3% from ₹14,804.50 crore. Advances are growing faster than core deposits: total advances rose 30.0% to ₹18,31,580 crore (24.1% excluding loans funded by FCNR (B) deposits at overseas branches) and deposits 27.1% to ₹20,49,874 crore (17.0% excluding FCNR (B)). The average CASA ratio was 35.8%, lower because of the term deposit inflows.
Asset quality improved: the gross NPA ratio was 1.20% against 1.58% a year earlier and 1.38% in June, the net NPA ratio 0.30% against 0.39%, and the provisioning coverage on non-performing loans 75.0%. The bank holds a contingency provision of ₹13,100 crore and an additional standard asset provision of ₹1,283 crore for the agricultural priority sector portfolio. Total capital adequacy was 16.68% and CET-1 16.01%, against requirements of 11.70% and 8.20%.
The board also approved a filing with the Reserve Bank of India seeking approval for Mr. Pradeep Kumar Sinha to continue as non-executive part-time chairperson for a further term. The auditors, B S R & Co. LLP and C N K & Associates LLP, gave an unmodified limited review report.
Inference
ICICI Bank's profit grew 20% on cost control and lower provisions while the net interest margin fell to 4.18%.
Advances grew faster than deposits when the overseas FCNR (B) loans are included, so the margin trend and funding mix are the figures that show whether profit growth can hold, and the filing does not forecast them.
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