Mumbai: The share price of ICICI Bank plunged over 5 percent, here on Monday, despite an improved quarterly result. The analysts attributed the slump to the lower-than-expected rise in profits.
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 percent from the previous close.
On Saturday, the bank reported a 26 percent 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.
