ICICI Bank Shares Surge 2% After Q3FY20 Results

ICICI Bank shares opened Monday's trade with gains of just 1% at Rs. 538.50 per share
The bank reported 158% jump in its net profit on a year on year basis, with profit to the tune of Rs. 4146 crore for the quarter ended December against Rs 1,605 crore seen in the same period of the previous year.

ICICI Bank Shares Surge 2% After Q3FY20 Results

Asset quality at the bank also improved with a decline of 36% in net NPAs to Rs 10,389 crore from Rs 16,252 crore on 31 December 2018. Gross additions to NPAs were Rs 4,363 crore in the third quarter of 2019-20. The net NPA ratio thus declined 2.58% to 1.49% on a year-on-year basis. Provisions (excluding taxes) declined by 51 percent year-on-year to Rs 2,083 crore at 31 December 2019.

Last, the stock of ICICI Bank quoted at Rs. 543.30, up Rs. 9.45 or 1.77% on the NSE with 737,508 shares traded.

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