ICICI Bank shares gain nearly 4% post Q1 results

Team Udayavani, Jul 30, 2018, 12:59 PM IST

New Delhi: Shares of ICICI Bank rose nearly 4 per cent today even as the company posted its maiden quarterly loss in more than a decade for the quarter ended June.

After opening the day on a positive note, shares of the company further moved up by 3.40 per cent to Rs 303.30 on BSE.

OnNSE, shares of the company gained 3.54 per cent to Rs 303.60.

Posting its maiden quarterly loss in more than a decade, ICICI Bank on Friday reported a net loss of Rs 119.5 crore for the three months to June due to higher provisioning for bad loans.

However, on a consolidated basis, ICICI Group posted a meagre profit of Rs 4.93 crore, compared to Rs 2,604.73 crore a year ago.

Total income on consolidated basis rose to Rs 29,174.12 crore for the quarter under review, as against Rs 26,517.57 crore in the same period of the previous fiscal, ICICI Bank said in a statement.