(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
Our Standards: The Thomson Reuters Trust Principles.