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ICICI Bank posts 5p Slump in Net Profit, Recommends Dividend

ICICI Bank reported a 5% fall in Q4 profit on Monday, below estimates. Net profit of the bank dropped to Rs.969crore in the three months ended March 31, from Rs1,020-crore a year earlier. The net interest income of the Private lenders for the quarter rose 26.54pc to Rs7,620 crore on YoY basis from Rs6,022-crore reported in March 2018. 

Meantime, the bank’s BoD has recommended a dividend of Rupee one per share.  Shares of ICICI bank closed at Rs.401.40 down 0.11pc on the BSE.

At closing bell, key benchmark indices Sensex and Nifty slumped from global cues. The Sensex closed 363pts lower at 38,600, and the Nifty50 ended at 11,598, down 114pts. Nifty Midcap & Nifty small cap also fell 1pc each.

Top Gainers and Losers on Nifty:  BPCL up 2.42%, TCS up 1.09%, Bajaj Finserv up 0.79%.  Zee Entertainment down 6.42%, Titan down 5.45% and Yes Bank down 5.06%.