ICICI Bank shares slump 5 pc despite Q4 profit rise

Share price of ICICI Bank plunged over 5 per cent, here on Monday, despite an improved quarterly result. The analysts attributed the slump to the lower-than-expected rise in profits.

migrator|11 May 2020 3:40 PM IST

Mumbai

At 2.26 p.m, the bank's share was trading on the BSE at Rs 321.70, lower by Rs 16.05 or 4.75 per cent from the previous close.

On Saturday, the bank reported a 26 per cent year-on-year rise in standalone net profit for the fourth quarter of 2019-20 at Rs 1,221 crore.

The bank made provisions, excluding those linked to Covid-19 and tax, worth Rs 3,242 crore in Q4 against Rs 2,725 crore in the year-ago quarter.

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