ICICI Bank trades flat after reporting 5% fall in Q4 profit

Gross non-performing assets (NPA) ratio stood at 6.7 per cent as of March 2019 - lowest in 13 quarters; down 105 basis points (bps) sequentially and 214 (bps) year-on-year.

Shares of ICICI Bank were trading flat in the morning trade on Tuesday, a day after the lender reported 5 per cent fall in net profit for the quarter ended March 2019 (Q4) to Rs 969 crore. The decline in profit was due to higher operating expenses and treasury income plunging to Rs 156 crore versus Rs 2,685 crore a year-ago padded with Rs 3,320 crore of profit from stake sale in ICICI Securities.

The stock dropped as much as 1.29 per cent in the early trade to Rs 396 apiece on the BSE. However, it recovered later and was trading